Zacks Investment Research upgraded shares of Oaktree Capital Group (NYSE:OAK) from a sell rating to a hold rating in a research note released on Saturday morning.
According to Zacks, “Oaktree Capital Group, LLC is an investment management firm focused on alternative markets. It specializes in credit and contrarian, value-oriented investing. The Company manages funds in investment strategies that fall into the six asset classes, which include: distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities. Oaktree Capital Group, LLC is based in Chicago, Illinois. “
Several other research analysts have also recently weighed in on OAK. ValuEngine cut shares of Oaktree Capital Group from a buy rating to a hold rating in a report on Sunday, December 31st. TheStreet cut shares of Oaktree Capital Group from a b- rating to a c+ rating in a report on Friday, November 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Oaktree Capital Group currently has a consensus rating of Hold and an average target price of $49.50.
Oaktree Capital Group (NYSE:OAK) opened at $46.25 on Friday. The firm has a market cap of $7,230.00, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.06 and a beta of 0.62. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.37. Oaktree Capital Group has a fifty-two week low of $41.10 and a fifty-two week high of $48.50.
In other Oaktree Capital Group news, Director Ocm Growth Holdings Llc bought 1,413,922 shares of the stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $15.00 per share, with a total value of $21,208,830.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Organics L.P. Oaktree bought 3,055,460 shares of the stock in a transaction dated Friday, December 15th. The shares were 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. Insiders have bought 4,498,182 shares of company stock worth $44,373,324 over the last ninety days.
Several institutional investors and hedge funds have recently made changes to their positions in OAK. Capital World Investors increased its holdings in shares of Oaktree Capital Group by 426.5% during the second quarter. Capital World Investors now owns 1,466,824 shares of the asset manager’s stock worth $68,354,000 after purchasing an additional 1,188,224 shares during the period. Burgundy Asset Management Ltd. increased its holdings in shares of Oaktree Capital Group by 75.9% during the third quarter. Burgundy Asset Management Ltd. now owns 416,310 shares of the asset manager’s stock worth $19,587,000 after purchasing an additional 179,627 shares during the period. Shelter Mutual Insurance Co bought a new position in shares of Oaktree Capital Group during the third quarter worth approximately $5,509,000. Steinberg Global Asset Management bought a new position in shares of Oaktree Capital Group during the third quarter worth approximately $4,186,000. Finally, Shelter Ins Retirement Plan bought a new position in shares of Oaktree Capital Group during the third quarter worth approximately $3,477,000. 22.58% of the stock is currently owned by 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.
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