HighTower Advisors LLC grew its stake in shares of Oaktree Capital Group, LLC (NYSE:OAK) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,088 shares of the asset manager’s stock after buying an additional 517 shares during the period. HighTower Advisors LLC’s holdings in Oaktree Capital Group were worth $938,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. EnTrustPermal Management LLC bought a new position in Oaktree Capital Group during the second quarter worth about $2,666,000. Virtu KCG Holdings LLC bought a new position in Oaktree Capital Group during the second quarter worth about $265,000. Advisor Group Inc. boosted its holdings in Oaktree Capital Group by 3.3% during the second quarter. Advisor Group Inc. now owns 8,820 shares of the asset manager’s stock worth $379,000 after buying an additional 283 shares during the last quarter. M&T Bank Corp bought a new position in Oaktree Capital Group during the second quarter worth about $209,000. Finally, California Public Employees Retirement System boosted its holdings in Oaktree Capital Group by 2.5% during the second quarter. California Public Employees Retirement System now owns 73,700 shares of the asset manager’s stock worth $3,434,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.
OAK has been the topic of a number of recent analyst reports. BidaskClub upgraded Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and set a $49.00 target price on shares of Oaktree Capital Group in a report on Sunday, July 30th. Morgan Stanley raised their target price on Oaktree Capital Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) cut Oaktree Capital Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $49.00 in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.20.
In related news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman John Frank sold 16,666 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $46.72, for a total value of $778,635.52. Following the sale, the insider now owns 41,667 shares in the company, valued at approximately $1,946,682.24. The disclosure for this sale can be found here.
Shares of Oaktree Capital Group, LLC (NYSE OAK) opened at 47.00 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 10.26 and a beta of 0.59. The stock’s 50 day moving average price is $46.17 and its 200-day moving average price is $46.48. Oaktree Capital Group, LLC has a 52-week low of $36.95 and a 52-week high of $48.50.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. The firm had revenue of $704.36 million for the quarter, compared to analyst estimates of $592.84 million. During the same quarter in the previous year, the company posted $0.79 EPS. On average, analysts forecast that Oaktree Capital Group, LLC will post $3.86 EPS for the current year.
Oaktree Capital Group 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.
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