Oaktree Capital Group LLC (OAK) Shares Down 3.6%
Oaktree Capital Group LLC (NYSE:OAK) shares were down 3.6% on Wednesday . The stock traded as low as $46.69 and last traded at $47.05, with a volume of 191,322 shares trading hands. The stock had previously closed at $48.80.
Several research analysts have weighed in on OAK shares. JPMorgan Chase & Co. lifted their target price on Oaktree Capital Group from $58.00 to $59.00 in a research note on Tuesday, March 29th. Zacks Investment Research cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Deutsche Bank AG reduced their price target on Oaktree Capital Group from $53.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Finally, Morgan Stanley reissued a “buy” rating on shares of Oaktree Capital Group in a report on Saturday, April 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Oaktree Capital Group presently has a consensus rating of “Buy” and a consensus target price of $53.17.
The stock has a market capitalization of $2.94 billion and a PE ratio of 41.11. The stock has a 50-day moving average of $45.95 and a 200 day moving average of $46.04.
Oaktree Capital Group (NYSE:OAK) last released its earnings results on Thursday, April 28th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.01. The firm earned $312.90 million during the quarter, compared to the consensus estimate of $288.16 million. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was down 21.1% on a year-over-year basis. Equities analysts predict that Oaktree Capital Group LLC will post $2.24 EPS for the current year.
In other news, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $21.00, for a total value of $181,233,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Other institutional investors recently bought and sold shares of the company. Agran Libbie increased its position in Oaktree Capital Group by 10,017.1% in the fourth quarter. Agran Libbie now owns 5,627,842 shares of the company’s stock worth $2,686,000 after buying an additional 5,572,215 shares during the period. Wells Fargo & Company MN increased its position in Oaktree Capital Group by 44.7% in the fourth quarter. Wells Fargo & Company MN now owns 157,338 shares of the company’s stock worth $7,508,000 after buying an additional 48,590 shares during the period. Bank of Montreal Can increased its position in Oaktree Capital Group by 17,472.5% in the fourth quarter. Bank of Montreal Can now owns 159,910 shares of the company’s stock worth $7,630,000 after buying an additional 159,000 shares during the period. Edge Asset Management Inc. increased its position in Oaktree Capital Group by 0.3% in the fourth quarter. Edge Asset Management Inc. now owns 516,777 shares of the company’s stock worth $24,660,000 after buying an additional 1,802 shares during the period. Finally, Thornburg Investment Management Inc. increased its position in Oaktree Capital Group by 0.3% in the fourth quarter. Thornburg Investment Management Inc. now owns 679,736 shares of the company’s stock worth $32,437,000 after buying an additional 1,733 shares during the period.
Oaktree Capital Group, LLC (Oaktree) is a global investment manager specializing in alternative investments. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.
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