Oaktree Capital Group LLC (OAK) Receives “Outperform” Rating from Keefe, Bruyette & Woods
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Oaktree Capital Group from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Thursday, July 14th. Deutsche Bank AG restated a buy rating on shares of Oaktree Capital Group in a research report on Sunday, July 10th. Finally, Barclays PLC decreased their price objective on shares of Oaktree Capital Group from $46.00 to $45.00 and set an equal weight rating on the stock in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $52.17.
Oaktree Capital Group (NYSE:OAK) opened at 43.17 on Tuesday. Oaktree Capital Group has a 12 month low of $38.66 and a 12 month high of $52.15. The stock has a 50 day moving average of $44.32 and a 200-day moving average of $46.16. The firm has a market cap of $2.70 billion, a P/E ratio of 27.25 and a beta of 0.50.
Oaktree Capital Group (NYSE:OAK) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.79 earnings per share 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 the consensus estimate of $317.17 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts predict that Oaktree Capital Group will post $2.52 earnings per share for the current fiscal year.
In other Oaktree Capital Group news, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of the stock in a transaction that occurred 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 can be accessed through this hyperlink. Also, Vice Chairman John Frank sold 16,667 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 89,817 shares in the company, valued at $4,049,848.53. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Evercore Wealth Management LLC bought a new stake in Oaktree Capital Group during the second quarter worth $112,000. Lazard Asset Management LLC raised its stake in Oaktree Capital Group by 33.3% in the first quarter. Lazard Asset Management LLC now owns 4,000 shares of the company’s stock worth $197,000 after buying an additional 1,000 shares during the period. Envestnet Asset Management Inc. raised its stake in Oaktree Capital Group by 3.7% in the first quarter. Envestnet Asset Management Inc. now owns 4,930 shares of the company’s stock worth $243,000 after buying an additional 178 shares during the period. Gerber Kawasaki Wealth & Investment Management bought a new stake in Oaktree Capital Group during the first quarter worth $246,000. Finally, GWM Advisors LLC bought a new stake in Oaktree Capital Group during the second quarter worth $276,000.
Oaktree Capital Group Company Profile
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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