Oaktree Capital Group (OAK) Price Target Lowered to $42.00 at Deutsche Bank

Oaktree Capital Group (NYSE:OAK) had its target price lowered by Deutsche Bank from $44.00 to $42.00 in a research note released on Friday. The brokerage currently has a hold rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Oaktree Capital Group from a sell rating to a hold rating in a report on Saturday, February 3rd. ValuEngine cut shares of Oaktree Capital Group from a buy rating to a hold rating in a report on Sunday, December 31st. JPMorgan Chase cut their price target on shares of Oaktree Capital Group from $53.00 to $51.00 and set a neutral rating for the company in a report on Tuesday, February 13th. Finally, Morgan Stanley lowered their target price on shares of Oaktree Capital Group from $60.00 to $57.00 and set an overweight rating on the stock in a research report on Thursday, March 1st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Oaktree Capital Group presently has a consensus rating of Hold and an average target price of $49.60.

NYSE OAK traded down $0.10 during trading hours on Friday, hitting $39.40. 460,220 shares of the stock were exchanged, compared to its average volume of 291,581. The stock has a market capitalization of $6,172.47, a P/E ratio of 9.92, a P/E/G ratio of 0.90 and a beta of 0.69. Oaktree Capital Group has a 12-month low of $38.80 and a 12-month high of $48.50. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 2.39.

Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. equities research analysts expect that Oaktree Capital Group will post 3.42 earnings per share for the current fiscal year.

In other Oaktree Capital Group news, Director Oaktree Capital Group Holdings sold 1,821,377 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $20.15, for a total transaction of $36,700,746.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Oaktree Capital Management Lp bought 60,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average price of $5.12 per share, for a total transaction of $307,200.00. The disclosure for this purchase can be found here. Insiders have acquired 529,796 shares of company stock worth $3,290,379 over the last 90 days.

Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in shares of Oaktree Capital Group by 45.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,189,792 shares of the asset manager’s stock valued at $50,090,000 after purchasing an additional 369,700 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in shares of Oaktree Capital Group by 75.9% in the third quarter. Burgundy Asset Management Ltd. now owns 416,310 shares of the asset manager’s stock valued at $19,587,000 after purchasing an additional 179,627 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Oaktree Capital Group by 21.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 384,335 shares of the asset manager’s stock valued at $16,181,000 after purchasing an additional 66,608 shares during the last quarter. Intrepid Capital Management Inc. grew its position in shares of Oaktree Capital Group by 0.5% in the third quarter. Intrepid Capital Management Inc. now owns 283,931 shares of the asset manager’s stock valued at $13,359,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Oaktree Capital Group by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 279,585 shares of the asset manager’s stock valued at $11,771,000 after purchasing an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 22.95% of the company’s stock.

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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.

Analyst Recommendations for Oaktree Capital Group (NYSE:OAK)

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