Oaktree Capital Group (OAK) Price Target Raised to $48.00 at Morgan Stanley
Oaktree Capital Group (NYSE:OAK) had its price target increased by Morgan Stanley from $47.00 to $48.00 in a research note released on Wednesday morning. Morgan Stanley currently has a buy rating on the asset manager’s stock.
Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Oaktree Capital Group from $47.00 to $50.00 and gave the company a neutral rating in a report on Wednesday, October 24th. ValuEngine raised Oaktree Capital Group from a sell rating to a hold rating in a research note on Wednesday, October 17th. TheStreet downgraded Oaktree Capital Group from a b- rating to a c+ rating in a research note on Tuesday, August 21st. Oppenheimer reissued a hold rating on shares of Oaktree Capital Group in a research note on Monday, July 30th. Finally, Credit Suisse Group dropped their price objective on Oaktree Capital Group from $45.00 to $44.00 and set a neutral rating on the stock in a research note on Friday, July 27th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Oaktree Capital Group has an average rating of Hold and a consensus target price of $46.00.
Shares of OAK traded down $0.67 during midday trading on Wednesday, hitting $40.21. The company’s stock had a trading volume of 25,332 shares, compared to its average volume of 291,645. Oaktree Capital Group has a one year low of $38.65 and a one year high of $46.80. The company has a debt-to-equity ratio of 2.60, a quick ratio of 2.30 and a current ratio of 2.30. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.21 and a beta of 0.57.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Monday, November 5th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.96%. This is a positive change from Oaktree Capital Group’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, November 2nd. Oaktree Capital Group’s payout ratio is presently 70.53%.
In other news, Director Ocm Growth Holdings Llc bought 1,006,899 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average cost of $15.02 per share, with a total value of $15,123,622.98. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Hedge funds have recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC purchased a new position in Oaktree Capital Group in the second quarter valued at approximately $102,000. Stelac Advisory Services LLC bought a new position in Oaktree Capital Group in the second quarter valued at $118,000. Whittier Trust Co. bought a new position in Oaktree Capital Group in the second quarter valued at $195,000. EdgePoint Investment Group Inc. bought a new position in Oaktree Capital Group in the second quarter valued at $167,000. Finally, Northern Trust Corp bought a new position in Oaktree Capital Group in the second quarter valued at $201,000. 26.14% of the stock is owned by institutional investors.
Oaktree Capital Group Company Profile
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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