JPMorgan Chase & Co. decreased its stake in Oaktree Capital Group, LLC (NYSE:OAK) by 37.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,321,405 shares of the asset manager’s stock after selling 800,013 shares during the period. JPMorgan Chase & Co. owned 2.06% of Oaktree Capital Group worth $61,577,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in OAK. Penserra Capital Management LLC lifted its holdings in shares of Oaktree Capital Group by 122.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,247 shares of the asset manager’s stock worth $101,000 after purchasing an additional 1,235 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Oaktree Capital Group in the 1st quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Oaktree Capital Group in the 2nd quarter worth approximately $110,000. US Bancorp DE lifted its holdings in shares of Oaktree Capital Group by 59.2% in the 2nd quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock worth $141,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of Oaktree Capital Group in the 2nd quarter worth approximately $209,000. 22.54% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $5.66, for a total value of $56,600,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman John Frank sold 16,666 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $46.72, for a total value of $778,635.52. Following the completion of the transaction, the insider now directly owns 41,667 shares in the company, valued at $1,946,682.24. The disclosure for this sale can be found here.
Several analysts recently issued reports on the company. Jefferies Group LLC assumed coverage on Oaktree Capital Group in a report on Wednesday, June 28th. They issued a “hold” rating and a $49.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $54.00 price target (down previously from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. BidaskClub raised Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Goldman Sachs Group, Inc. (The) downgraded Oaktree Capital Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $49.00 in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.50.
Shares of Oaktree Capital Group, LLC (NYSE OAK) opened at 45.15 on Wednesday. The firm has a market capitalization of $2.90 billion, a PE ratio of 9.85 and a beta of 0.61. Oaktree Capital Group, LLC has a 52-week low of $36.95 and a 52-week high of $48.50. The company has a 50-day moving average price of $46.62 and a 200 day moving average price of $46.21.
Oaktree Capital Group (NYSE:OAK) last announced its earnings results on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, topping the consensus estimate of $1.47 by $0.26. The business had revenue of $704.36 million for the quarter, compared to the consensus estimate of $592.84 million. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. During the same period in the previous year, the business earned $0.79 EPS. Analysts expect that Oaktree Capital Group, LLC will post $3.89 EPS for the current fiscal year.
About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. 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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