Oaktree Capital Group, LLC (OAK) Stock Rating Upgraded by BidaskClub
Oaktree Capital Group, LLC (NYSE:OAK) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
Several other analysts also recently commented on the stock. TheStreet raised shares of Oaktree Capital Group from a “c+” rating to a “b-” rating in a report on Monday, April 3rd. Jefferies Group LLC started coverage on shares of Oaktree Capital Group in a report on Wednesday, June 28th. They set a “hold” rating and a $49.00 target price for the company. Deutsche Bank AG lifted their target price on shares of Oaktree Capital Group from $44.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $54.00 target price (down previously from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.00.
Oaktree Capital Group (NYSE OAK) opened at 47.70 on Thursday. The stock’s 50 day moving average is $46.47 and its 200-day moving average is $44.27. Oaktree Capital Group has a 12 month low of $36.95 and a 12 month high of $48.94. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 13.53 and a beta of 0.60.
Oaktree Capital Group (NYSE:OAK) last announced its earnings results on Thursday, April 27th. The asset manager reported $0.86 EPS for the quarter, topping the consensus estimate of $0.78 by $0.08. The business had revenue of $391.20 million during the quarter, compared to the consensus estimate of $341.84 million. Oaktree Capital Group had a net margin of 19.08% and a return on equity of 17.74%. Oaktree Capital Group’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, analysts anticipate that Oaktree Capital Group will post $3.83 earnings per share for the current fiscal year.
In other Oaktree Capital Group news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the business’s stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $15.00 per share, with a total value of $13,641,645.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Oaktree Capital Group by 198.7% in the fourth quarter. Renaissance Technologies LLC now owns 364,870 shares of the asset manager’s stock worth $13,683,000 after buying an additional 242,700 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Oaktree Capital Group during the fourth quarter valued at approximately $192,000. Pekin Singer Strauss Asset Management IL boosted its position in shares of Oaktree Capital Group by 15.0% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 410,826 shares of the asset manager’s stock valued at $15,406,000 after buying an additional 53,603 shares during the last quarter. Creative Planning boosted its position in shares of Oaktree Capital Group by 31.3% in the first quarter. Creative Planning now owns 24,863 shares of the asset manager’s stock valued at $1,126,000 after buying an additional 5,931 shares during the last quarter. Finally, SOL Capital Management CO boosted its position in shares of Oaktree Capital Group by 49.9% in the first quarter. SOL Capital Management CO now owns 32,760 shares of the asset manager’s stock valued at $1,484,000 after buying an additional 10,900 shares during the last quarter. 22.66% of the stock is owned by hedge funds and other institutional investors.
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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