JPMorgan Chase & Co. Lowers Oaktree Capital Group (OAK) Price Target to $51.00

Oaktree Capital Group (NYSE:OAK) had its target price lowered by JPMorgan Chase & Co. from $53.00 to $51.00 in a report released on Tuesday. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 19.16% from the company’s current price.

OAK has been the topic of a number of other research reports. Zacks Investment Research cut Oaktree Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet cut Oaktree Capital Group from a “b-” rating to a “c+” rating in a report on Friday, November 17th. Finally, ValuEngine cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.80.

Shares of Oaktree Capital Group (NYSE:OAK) opened at $42.80 on Tuesday. The stock has a market capitalization of $6,662.57, a PE ratio of 10.72, a P/E/G ratio of 0.95 and a beta of 0.62. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.80 and a current ratio of 1.80. Oaktree Capital Group has a 1-year low of $41.10 and a 1-year high of $48.50.

Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.17. The business had revenue of $327.40 million for the quarter, compared to analysts’ expectations of $286.45 million. Oaktree Capital Group had a return on equity of 18.06% and a net margin of 15.75%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. analysts expect that Oaktree Capital Group will post 3.48 earnings per share for the current fiscal year.

In other Oaktree Capital Group news, major shareholder Oaktree Capital Management Lp purchased 28,800 shares of the stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $8.63 per share, with a total value of $248,544.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Organics L.P. Oaktree purchased 3,055,460 shares of the stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $7.50 per share, for a total transaction of $22,915,950.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,682,236 shares of company stock worth $45,351,686.

Several large investors have recently added to or reduced their stakes in OAK. Mackenzie Financial Corp raised its holdings in shares of Oaktree Capital Group by 45.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,189,792 shares of the asset manager’s stock valued at $50,090,000 after acquiring an additional 369,700 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Oaktree Capital Group by 75.9% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 416,310 shares of the asset manager’s stock valued at $19,587,000 after acquiring an additional 179,627 shares in the last quarter. Shelter Mutual Insurance Co purchased a new stake in shares of Oaktree Capital Group in the 3rd quarter valued at about $5,509,000. Steinberg Global Asset Management purchased a new stake in shares of Oaktree Capital Group in the 3rd quarter valued at about $4,186,000. Finally, Oak Grove Capital LLC purchased a new stake in shares of Oaktree Capital Group in the 4th quarter valued at about $3,513,000. 22.61% of the stock is currently owned by hedge funds and other institutional investors.

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Oaktree Capital Group Company Profile

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.

Analyst Recommendations for Oaktree Capital Group (NYSE:OAK)

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