SOL Capital Management CO cut its stake in Oaktree Capital Group LLC (NYSE:OAK) by 21.7% during the second quarter, Holdings Channel reports. The fund owned 16,525 shares of the company’s stock after selling 4,575 shares during the period. SOL Capital Management CO’s holdings in Oaktree Capital Group were worth $740,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC raised its position in Oaktree Capital Group by 33.3% in the first quarter. Lazard Asset Management LLC now owns 4,000 shares of the company’s stock valued at $197,000 after buying an additional 1,000 shares during the last quarter. GWM Advisors LLC bought a new position in Oaktree Capital Group during the second quarter valued at $276,000. Wealthsource Partners LLC bought a new position in Oaktree Capital Group during the first quarter valued at $434,000. Advisory Services Network LLC raised its position in Oaktree Capital Group by 27.5% in the second quarter. Advisory Services Network LLC now owns 10,024 shares of the company’s stock valued at $449,000 after buying an additional 2,162 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.
Shares of Oaktree Capital Group LLC (NYSE:OAK) traded up 0.25% during midday trading on Friday, hitting $40.58. 414,232 shares of the stock were exchanged. The firm’s 50 day moving average price is $42.86 and its 200-day moving average price is $45.41. The stock has a market cap of $2.54 billion, a P/E ratio of 25.62 and a beta of 0.50. Oaktree Capital Group LLC 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 EPS for the quarter, topping the consensus estimate of $0.57 by $0.22. The business earned $282.70 million during the quarter, compared to the consensus estimate of $317.17 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, equities research analysts expect that Oaktree Capital Group LLC will post $2.54 earnings per share for the current fiscal year.
Several research firms recently weighed in on OAK. Deutsche Bank AG restated a “buy” rating on shares of Oaktree Capital Group in a research report on Sunday, July 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Oaktree Capital Group from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Zacks Investment Research raised shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, July 14th. Finally, Barclays PLC dropped their price objective on shares of Oaktree Capital Group from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $49.83.
In other 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Principal Opportunities Fu Ocm sold 8,630,190 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $21.00, for a total value of $181,233,990.00. The disclosure for this sale can be found here.
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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