Oaktree Capital Group (OAK) Downgraded by ValuEngine
ValuEngine downgraded shares of Oaktree Capital Group (NYSE:OAK) from a buy rating to a hold rating in a report issued on Sunday morning.
Several other brokerages also recently commented on OAK. Zacks Investment Research downgraded shares of Oaktree Capital Group from a hold rating to a sell rating in a research note on Thursday, November 9th. TheStreet downgraded shares of Oaktree Capital Group from a b- rating to a c+ rating in a research note on Friday, November 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $49.50.
Shares of Oaktree Capital Group (NYSE OAK) opened at $43.20 on Friday. Oaktree Capital Group has a 52 week low of $37.80 and a 52 week 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 firm has a market cap of $6,576.65, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58.
Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.11. Oaktree Capital Group had a net margin of 19.04% and a return on equity of 18.88%. The firm had revenue of $304.80 million for the quarter, compared to the consensus estimate of $281.61 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. equities analysts forecast that Oaktree Capital Group will post 3.84 EPS for the current fiscal year.
In related news, major shareholder Oaktree Capital Management Lp purchased 28,800 shares of Oaktree Capital Group stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $8.63 per share, for a total transaction of $248,544.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ocm Growth Holdings Llc purchased 1,413,922 shares of Oaktree Capital Group stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average price of $15.00 per share, for a total transaction of $21,208,830.00. The disclosure for this purchase can be found here. Insiders bought a total of 4,498,182 shares of company stock worth $44,373,324 in the last 90 days.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Adalta Capital Management LLC lifted its position in Oaktree Capital Group by 24.0% during the 3rd quarter. Adalta Capital Management LLC now owns 6,075 shares of the asset manager’s stock worth $286,000 after buying an additional 1,175 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in Oaktree Capital Group by 75.9% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 416,310 shares of the asset manager’s stock worth $19,587,000 after buying an additional 179,627 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Oaktree Capital Group during the 3rd quarter worth about $304,000. Gofen & Glossberg LLC IL lifted its position in Oaktree Capital Group by 8.7% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 135,500 shares of the asset manager’s stock worth $6,375,000 after buying an additional 10,900 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in Oaktree Capital Group during the 3rd quarter worth about $218,000. Institutional investors and hedge funds own 22.59% 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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