Veritable L.P. Continues to Hold Stake in Oaktree Capital Group, LLC (OAK)
Veritable L.P. maintained its stake in shares of Oaktree Capital Group, LLC (NYSE:OAK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,788 shares of the asset manager’s stock at the close of the second quarter. Veritable L.P.’s holdings in Oaktree Capital Group were worth $363,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Oaktree Capital Group in the first quarter valued at approximately $103,000. Bronfman E.L. Rothschild L.P. purchased a new stake in Oaktree Capital Group in the 2nd quarter worth approximately $110,000. Penserra Capital Management LLC boosted its position in Oaktree Capital Group by 10.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,471 shares of the asset manager’s stock worth $115,000 after purchasing an additional 224 shares in the last quarter. US Bancorp DE boosted its position in Oaktree Capital Group by 59.2% in the 2nd quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock worth $141,000 after purchasing an additional 1,125 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in shares of Oaktree Capital Group during the 2nd quarter worth approximately $207,000. Institutional investors own 21.84% of the company’s stock.
Several equities analysts have recently weighed in on OAK shares. BidaskClub raised shares of Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price target on shares of Oaktree Capital Group in a report on Sunday, July 30th. Morgan Stanley increased their price target 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. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Oaktree Capital Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $49.00 in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.50.
Shares of Oaktree Capital Group, LLC (OAK) opened at 47.80 on Wednesday. Oaktree Capital Group, LLC has a 52-week low of $36.95 and a 52-week high of $48.50. The stock has a 50 day moving average price of $46.05 and a 200-day moving average price of $46.38. The stock has a market capitalization of $3.07 billion, a PE ratio of 10.43 and a beta of 0.59.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.26. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. The firm had revenue of $704.36 million during the quarter, compared to analysts’ expectations of $592.84 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. On average, equities research analysts anticipate that Oaktree Capital Group, LLC will post $3.89 EPS for the current fiscal year.
In related news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of Oaktree Capital Group stock in a transaction on Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman John Frank sold 16,666 shares of the business’s stock in a transaction on 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 owns 41,667 shares in the company, valued at $1,946,682.24. The disclosure for this sale can be found here.
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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