Independent Investors Inc. Has $617,000 Stake in Oaktree Capital Group LLC (OAK)
Independent Investors Inc. continued to hold its stake in shares of Oaktree Capital Group LLC (NYSE:OAK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,800 shares of the company’s stock at the end of the second quarter. Independent Investors Inc.’s holdings in Oaktree Capital Group were worth $617,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in OAK. Royce & Associates LP boosted its stake in shares of Oaktree Capital Group by 170.7% in the first quarter. Royce & Associates LP now owns 378,387 shares of the company’s stock valued at $18,666,000 after buying an additional 238,587 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Oaktree Capital Group by 20.1% in the first quarter. JPMorgan Chase & Co. now owns 1,172,142 shares of the company’s stock valued at $57,822,000 after buying an additional 196,330 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Oaktree Capital Group by 13.0% in the first quarter. Wellington Management Group LLP now owns 1,501,533 shares of the company’s stock valued at $74,071,000 after buying an additional 172,376 shares during the last quarter. Teachers Advisors Inc. bought a new stake in shares of Oaktree Capital Group during the first quarter valued at about $7,181,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Oaktree Capital Group during the first quarter valued at about $4,638,000.
Shares of Oaktree Capital Group LLC (NYSE:OAK) traded up 0.50% during trading on Tuesday, hitting $40.20. The company’s stock had a trading volume of 385,355 shares. The firm’s 50 day moving average price is $42.66 and its 200-day moving average price is $45.25. Oaktree Capital Group LLC has a 52 week low of $38.66 and a 52 week high of $52.15. The company has a market cap of $2.52 billion, a PE ratio of 25.38 and a beta of 0.50.
Oaktree Capital Group (NYSE:OAK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.22. The company had revenue of $282.70 million for the quarter, compared to analysts’ expectations of $317.17 million. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, analysts predict that Oaktree Capital Group LLC will post $2.54 earnings per share for the current year.
OAK has been the topic of several analyst reports. Barclays PLC cut Oaktree Capital Group from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $45.00 to $38.00 in a research note on Thursday, October 13th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Oaktree Capital Group in a research note on Tuesday, September 20th. Zacks Investment Research cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Finally, Deutsche Bank AG cut their price target on Oaktree Capital Group from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Oaktree Capital Group presently has a consensus rating of “Buy” and a consensus price target of $49.83.
In other news, Vice Chairman John Frank sold 16,667 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $45.09, for a total transaction of $751,515.03. Following the completion of the sale, the insider now directly owns 89,817 shares of the company’s stock, valued at approximately $4,049,848.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Oaktree Capital Group Holdings acquired 7,564,290 shares of the stock in a transaction dated Wednesday, August 10th. The shares were bought at an average cost of $3.00 per share, with a total value of $22,692,870.00. The disclosure for this purchase can be found here.
About Oaktree Capital Group
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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