Oaktree Capital Group LLC (OAK) Downgraded to “Underweight” at Barclays PLC
Oaktree Capital Group LLC (NYSE:OAK) was downgraded by equities research analysts at Barclays PLC to an “underweight” rating in a research note issued on Thursday.
Several other equities research analysts have also recently weighed in on OAK. Zacks Investment Research upgraded shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Thursday, September 29th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Oaktree Capital Group in a research report on Tuesday, September 20th. Finally, Deutsche Bank AG reduced their price target on shares of Oaktree Capital Group from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $51.00.
Shares of Oaktree Capital Group (NYSE:OAK) opened at 40.40 on Thursday. The stock has a market capitalization of $2.53 billion, a PE ratio of 25.51 and a beta of 0.50. The stock has a 50 day moving average of $42.97 and a 200 day moving average of $45.45. Oaktree Capital Group has a 52-week low of $38.66 and a 52-week high of $52.15.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the 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 previous year, the business earned $0.44 EPS. Analysts forecast that Oaktree Capital Group will post $2.54 earnings per share for the current year.
In other news, major shareholder Oaktree Capital Group Holdings acquired 7,564,290 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were acquired at an average price of $3.00 per share, for a total transaction of $22,692,870.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman John Frank sold 16,667 shares of the business’s stock in a transaction 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 approximately $4,049,848.53. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of OAK. Evercore Wealth Management LLC bought a new stake in shares of Oaktree Capital Group during the second quarter worth about $112,000. Lazard Asset Management LLC raised its stake in shares of 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 in the last quarter. GWM Advisors LLC bought a new stake in shares of Oaktree Capital Group during the second quarter worth about $276,000. Veritable L.P. raised its stake in shares of Oaktree Capital Group by 16.3% in the second quarter. Veritable L.P. now owns 6,288 shares of the company’s stock worth $281,000 after buying an additional 882 shares in the last quarter. Finally, Lebenthal Asset Management LLC bought a new stake in shares of Oaktree Capital Group during the second quarter worth about $305,000.
About Oaktree Capital Group
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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