Short Interest in Oaktree Capital Group LLC (OAK) Declines By 49.1%
Oaktree Capital Group LLC (NYSE:OAK) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 326,837 shares, a decline of 49.1% from the September 15th total of 641,886 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 228,313 shares, the short-interest ratio is presently 1.4 days.
Shares of Oaktree Capital Group (NYSE:OAK) opened at 40.20 on Wednesday. The firm’s 50-day moving average is $42.55 and its 200 day moving average is $45.19. Oaktree Capital Group has a 52-week low of $38.66 and a 52-week high of $52.15. The stock has a market cap of $2.52 billion, a P/E ratio of 25.38 and a beta of 0.50.
Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.22. The business earned $282.70 million during the quarter, compared to analysts’ expectations of $317.17 million. During the same period in the previous year, the business posted $0.44 EPS. Analysts forecast that Oaktree Capital Group will post $2.54 earnings per share for the current fiscal year.
OAK has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, July 14th. Keefe, Bruyette & Woods cut their price target on shares of Oaktree Capital Group from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, July 29th. Barclays PLC cut their price target on shares of Oaktree Capital Group from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Oaktree Capital Group in a research report on Sunday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $49.83.
In other Oaktree Capital Group news, major shareholder Oaktree Capital Group Holdings purchased 7,564,290 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was acquired at an average cost of $3.00 per share, for a total transaction of $22,692,870.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman John Frank sold 16,667 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $45.09, for a total transaction of $751,515.03. Following the sale, the insider now owns 89,817 shares of the company’s stock, valued at $4,049,848.53. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanders Morris Harris Inc. raised its position in Oaktree Capital Group by 8.6% in the second quarter. Sanders Morris Harris Inc. now owns 22,910 shares of the company’s stock valued at $1,025,000 after buying an additional 1,805 shares during the last quarter. GWM Advisors LLC acquired a new position in Oaktree Capital Group during the second quarter valued at approximately $276,000. Gofen & Glossberg LLC IL raised its position in Oaktree Capital Group by 11.1% in the second quarter. Gofen & Glossberg LLC IL now owns 27,050 shares of the company’s stock valued at $1,211,000 after buying an additional 2,700 shares during the last quarter. Creative Planning raised its position in Oaktree Capital Group by 1.5% in the second quarter. Creative Planning now owns 16,778 shares of the company’s stock valued at $751,000 after buying an additional 248 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in Oaktree Capital Group by 101.6% in the first quarter. First Republic Investment Management Inc. now owns 11,030 shares of the company’s stock valued at $545,000 after buying an additional 5,560 shares during the last quarter.
Oaktree Capital Group Company Profile
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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