Oaktree Capital Group (OAK) Raised to “Hold” at Zacks Investment Research

Oaktree Capital Group (NYSE:OAK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Oaktree Capital Group, LLC is an investment management firm focused on alternative markets. It specializes in credit and contrarian, value-oriented investing. The Company manages funds in investment strategies that fall into the six asset classes, which include: distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities. Oaktree Capital Group, LLC is based in Chicago, Illinois. “

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OAK has been the subject of a number of other research reports. ValuEngine cut shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. cut their target price on shares of Oaktree Capital Group from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, February 13th. Finally, Morgan Stanley cut their target price on shares of Oaktree Capital Group from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, March 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.20.

Shares of OAK stock opened at $39.75 on Friday. The company has a market cap of $6,219.35, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67. The company has a debt-to-equity ratio of 2.39, a current ratio of 6.04 and a quick ratio of 6.04. Oaktree Capital Group has a 12 month low of $39.35 and a 12 month high of $48.50.

Oaktree Capital Group (NYSE:OAK) last announced its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. The firm had revenue of $327.40 million during the quarter, compared to analysts’ expectations of $286.45 million. Oaktree Capital Group had a net margin of 15.75% and a return on equity of 18.04%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. equities research analysts expect that Oaktree Capital Group will post 3.42 EPS for the current year.

In other Oaktree Capital Group news, major shareholder Oaktree Capital Management Lp purchased 26,900 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average cost of $7.92 per share, with a total value of $213,048.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Oaktree Capital Group Holdings sold 1,821,377 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $20.15, for a total transaction of $36,700,746.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 356,927 shares of company stock worth $2,235,255.

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Oaktree Capital Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 1,389,230 shares of the asset manager’s stock worth $65,016,000 after acquiring an additional 67,825 shares during the period. Oak Grove Capital LLC bought a new position in Oaktree Capital Group during the fourth quarter worth about $3,513,000. Mackenzie Financial Corp increased its position in Oaktree Capital Group by 45.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,189,792 shares of the asset manager’s stock worth $50,090,000 after acquiring an additional 369,700 shares during the period. Thornburg Investment Management Inc. increased its position in Oaktree Capital Group by 4.3% during the third quarter. Thornburg Investment Management Inc. now owns 749,057 shares of the asset manager’s stock worth $35,243,000 after acquiring an additional 30,598 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in Oaktree Capital Group by 16.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,964 shares of the asset manager’s stock valued at $986,000 after buying an additional 2,997 shares during the period. 22.93% of the stock is currently owned by institutional investors and hedge funds.

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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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