Analysts Set Oaktree Capital Group, LLC (OAK) Target Price at $49.50

Oaktree Capital Group, LLC (NYSE:OAK) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.50.

A number of brokerages have recently commented on OAK. Goldman Sachs Group, Inc. (The) downgraded shares of Oaktree Capital Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $50.00 to $49.00 in a research note on Friday, July 28th. BidaskClub raised shares of Oaktree Capital Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Jefferies Group LLC began coverage on shares of Oaktree Capital Group in a research note on Wednesday, June 28th. They issued a “hold” rating and a $49.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Oaktree Capital Group from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th.

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Shares of Oaktree Capital Group (NYSE OAK) traded up 0.11% on Thursday, reaching $47.45. The company’s stock had a trading volume of 107,876 shares. The firm has a market capitalization of $3.05 billion, a PE ratio of 10.35 and a beta of 0.59. The firm has a 50-day moving average price of $46.39 and a 200 day moving average price of $46.56. Oaktree Capital Group has a one year low of $36.95 and a one year high of $48.50.

Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.26. The company had revenue of $704.36 million for the quarter, compared to the consensus estimate of $592.84 million. Oaktree Capital Group had a net margin of 19.17% and a return on equity of 20.11%. During the same quarter last year, the firm posted $0.79 earnings per share. On average, analysts anticipate that Oaktree Capital Group will post $3.87 earnings per share for the current fiscal year.

In other news, Vice Chairman John Frank sold 16,666 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $46.72, for a total value of $778,635.52. Following the transaction, the insider now owns 41,667 shares of the company’s stock, valued at approximately $1,946,682.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $5.66, for a total transaction of $56,600,000.00. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in Oaktree Capital Group during the 1st quarter valued at $103,000. Bronfman E.L. Rothschild L.P. acquired a new stake in Oaktree Capital Group during the 2nd quarter valued at $110,000. Penserra Capital Management LLC grew its holdings in Oaktree Capital Group by 10.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,471 shares of the asset manager’s stock valued at $115,000 after purchasing an additional 224 shares in the last quarter. US Bancorp DE grew its holdings in Oaktree Capital Group by 59.2% during the 2nd quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock valued at $141,000 after purchasing an additional 1,125 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in Oaktree Capital Group during the 2nd quarter valued at $207,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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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