Oaktree Capital Group, LLC (OAK) Cut to “C+” at TheStreet
Oaktree Capital Group, LLC (NYSE:OAK) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Friday.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Oaktree Capital Group from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Morgan Stanley upped their target price on shares of Oaktree Capital Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. BidaskClub raised shares of Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of Oaktree Capital Group in a report on Sunday, July 30th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Oaktree Capital Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $49.00 in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $49.50.
Shares of Oaktree Capital Group (NYSE:OAK) opened at $42.60 on Friday. Oaktree Capital Group has a 1 year low of $36.95 and a 1 year high of $48.50. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market cap of $6,660.00, a price-to-earnings ratio of 10.17, a PEG ratio of 0.88 and a beta of 0.61.
Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Thursday, October 26th. The asset manager reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.11. The company had revenue of $304.80 million during the quarter, compared to the consensus estimate of $281.61 million. Oaktree Capital Group had a net margin of 19.04% and a return on equity of 18.88%. Oaktree Capital Group’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. sell-side analysts forecast that Oaktree Capital Group will post 3.85 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in Oaktree Capital Group in the 3rd quarter worth $304,000. Gofen & Glossberg LLC IL lifted its stake in Oaktree Capital Group by 8.7% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 135,500 shares of the asset manager’s stock worth $6,375,000 after purchasing an additional 10,900 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Oaktree Capital Group in the 3rd quarter worth $218,000. Belpointe Asset Management LLC purchased a new stake in Oaktree Capital Group in the 3rd quarter worth $327,000. Finally, California Public Employees Retirement System lifted its stake in Oaktree Capital Group by 7.0% in the 3rd quarter. California Public Employees Retirement System now owns 78,888 shares of the asset manager’s stock worth $3,712,000 after purchasing an additional 5,188 shares in the last quarter. Institutional investors and hedge funds own 22.13% of the company’s stock.
Oaktree Capital Group Company Profile
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. 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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