Oaktree Capital Group LLC (OAK) Sees Strong Trading Volume
Oaktree Capital Group LLC (NYSE:OAK) shares saw unusually-high trading volume on Monday . Approximately 299,306 shares were traded during trading, an increase of 27% from the previous session’s volume of 235,137 shares.The stock last traded at $45.01 and had previously closed at $46.42.
Several analysts have recently commented on OAK shares. Deutsche Bank AG lowered their target price on shares of Oaktree Capital Group from $53.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Zacks Investment Research upgraded shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Thursday, July 14th. Keefe, Bruyette & Woods lowered their target price on shares of Oaktree Capital Group from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Friday. Finally, Barclays PLC lowered their target price on shares of Oaktree Capital Group from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $52.17.
The firm’s 50-day moving average is $45.88 and its 200-day moving average is $46.20. The company has a market capitalization of $2.81 billion and a P/E ratio of 28.64.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.22. The company earned $282.70 million during the quarter, compared to the consensus estimate of $317.17 million. During the same quarter last year, the firm earned $0.44 EPS. Equities research analysts forecast that Oaktree Capital Group LLC will post $2.40 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Monday, August 8th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, August 4th. This is a positive change from Oaktree Capital Group’s previous quarterly dividend of $0.55.
In other news, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $21.00, for a total transaction of $181,233,990.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several hedge funds have made changes to their positions in OAK. Agran Libbie boosted its stake in shares of 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. Bank of Montreal Can boosted its stake in shares of 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. Finally, Wells Fargo & Company MN boosted its stake in shares of 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.
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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