Oaktree Capital Group, LLC (OAK) Stake Held by ICONIQ Capital LLC
ICONIQ Capital LLC continued to hold its stake in shares of Oaktree Capital Group, LLC (NYSE:OAK) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 32,990 shares of the asset manager’s stock at the end of the 2nd quarter. Oaktree Capital Group comprises about 0.2% of ICONIQ Capital LLC’s portfolio, making the stock its 23rd largest position. ICONIQ Capital LLC owned about 0.05% of Oaktree Capital Group worth $1,537,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Oaktree Capital Group in the first quarter worth about $103,000. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Oaktree Capital Group in the second quarter worth about $110,000. Penserra Capital Management LLC boosted its position in shares of Oaktree Capital Group by 10.0% in the second quarter. Penserra Capital Management LLC now owns 2,471 shares of the asset manager’s stock worth $115,000 after buying an additional 224 shares during the period. US Bancorp DE boosted its position in shares of Oaktree Capital Group by 59.2% in the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock worth $141,000 after buying an additional 1,125 shares during the period. Finally, MML Investors Services LLC purchased a new stake in shares of Oaktree Capital Group in the second quarter worth about $207,000. 21.84% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on OAK. Jefferies Group LLC began coverage on Oaktree Capital Group in a research report on Wednesday, June 28th. They issued a “hold” rating and a $49.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $54.00 target price (down previously from $56.00) on shares of Oaktree Capital Group in a research report on Monday, July 10th. BidaskClub raised Oaktree Capital Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Goldman Sachs Group, Inc. (The) downgraded Oaktree Capital Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $49.00 in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.20.
Shares of Oaktree Capital Group, LLC (NYSE OAK) traded down 0.32% on Friday, reaching $47.10. The company had a trading volume of 67,601 shares. The firm has a market capitalization of $3.02 billion, a PE ratio of 10.28 and a beta of 0.59. Oaktree Capital Group, LLC has a 52-week low of $36.95 and a 52-week high of $48.50. The company has a 50-day moving average price of $46.11 and a 200-day moving average price of $46.41.
Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.26. The company had revenue of $704.36 million for the quarter, compared to the consensus estimate of $592.84 million. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. During the same period last year, the business posted $0.79 earnings per share. Equities research analysts forecast that Oaktree Capital Group, LLC will post $3.85 EPS for the current fiscal year.
In other news, Vice Chairman John Frank sold 16,666 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $46.72, for a total value of $778,635.52. Following the sale, the insider now directly owns 41,667 shares of the company’s stock, valued at $1,946,682.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $5.66, for a total value of $56,600,000.00. The disclosure for this sale can be found here.
Oaktree Capital Group 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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