Oaktree Capital Group LLC (NYSE:OAK) – Oppenheimer issued their Q1 2019 EPS estimates for Oaktree Capital Group in a report released on Monday, October 15th. Oppenheimer analyst L. Rudary forecasts that the asset manager will post earnings of $0.54 per share for the quarter. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Oaktree Capital Group’s FY2019 earnings at $2.81 EPS.
OAK has been the subject of several other research reports. Credit Suisse Group decreased their target price on Oaktree Capital Group from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. Morgan Stanley decreased their target price on Oaktree Capital Group from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, October 9th. ValuEngine upgraded Oaktree Capital Group from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet upgraded Oaktree Capital Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. Finally, JPMorgan Chase & Co. decreased their target price on Oaktree Capital Group from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.20.
Oaktree Capital Group (NYSE:OAK) last posted its earnings results on Thursday, July 26th. The asset manager reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The business had revenue of $273.53 million for the quarter, compared to analysts’ expectations of $276.75 million. Oaktree Capital Group had a return on equity of 9.38% and a net margin of 13.05%. Oaktree Capital Group’s revenue for the quarter was down 61.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp purchased a new stake in Oaktree Capital Group in the second quarter valued at approximately $201,000. Mainstay Capital Management LLC ADV raised its stake in shares of Oaktree Capital Group by 3,965.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 24,390 shares of the asset manager’s stock worth $600,000 after purchasing an additional 23,790 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Oaktree Capital Group during the second quarter worth approximately $873,000. Putnam Investments LLC purchased a new stake in shares of Oaktree Capital Group during the second quarter worth approximately $289,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Oaktree Capital Group during the second quarter worth approximately $5,473,000. Institutional investors own 26.20% of the company’s stock.
In other Oaktree Capital Group news, Director Larry W. Keele sold 8,333 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $41.40, for a total value of $344,986.20. Following the completion of the sale, the director now owns 8,656 shares in the company, valued at $358,358.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ocm Growth Holdings Llc acquired 1,006,899 shares of Oaktree Capital Group stock in a transaction on Friday, September 14th. The stock was purchased at an average price of $15.02 per share, with a total value of $15,123,622.98. The disclosure for this purchase can be found here.
About Oaktree Capital Group
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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