HighTower Advisors LLC cut its stake in shares of Oaktree Capital Group, LLC (NYSE:OAK) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,571 shares of the asset manager’s stock after selling 3,196 shares during the period. HighTower Advisors LLC’s holdings in Oaktree Capital Group were worth $886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Penserra Capital Management LLC increased its position in shares of Oaktree Capital Group by 122.0% in the first quarter. Penserra Capital Management LLC now owns 2,247 shares of the asset manager’s stock valued at $101,000 after buying an additional 1,235 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Oaktree Capital Group during the first quarter worth approximately $103,000. Envestnet Asset Management Inc. bought a new position in Oaktree Capital Group during the fourth quarter worth approximately $192,000. Financial Architects Inc increased its position in Oaktree Capital Group by 2.9% in the first quarter. Financial Architects Inc now owns 4,747 shares of the asset manager’s stock worth $215,000 after buying an additional 135 shares in the last quarter. Finally, Greenwich Investment Management Inc. bought a new position in Oaktree Capital Group during the first quarter worth approximately $226,000. 22.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Oaktree Capital Group, LLC (NYSE:OAK) opened at 46.80 on Monday. The firm has a market cap of $3.00 billion, a P/E ratio of 13.28 and a beta of 0.60. The company’s 50-day moving average is $46.47 and its 200-day moving average is $44.27. Oaktree Capital Group, LLC has a 52-week low of $36.95 and a 52-week high of $48.94.
Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The company had revenue of $391.20 million for the quarter, compared to the consensus estimate of $341.84 million. Oaktree Capital Group had a return on equity of 17.74% and a net margin of 19.08%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. Equities research analysts forecast that Oaktree Capital Group, LLC will post $3.76 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on OAK shares. TheStreet raised shares of Oaktree Capital Group from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Deutsche Bank AG upped their price objective on shares of Oaktree Capital Group from $44.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Jefferies Group LLC started coverage on shares of Oaktree Capital Group in a research note on Wednesday, June 28th. They set a “hold” rating and a $49.00 price objective for the company. Finally, BidaskClub downgraded shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $46.80.
In other news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were bought at an average price of $15.00 per share, with a total value of $13,641,645.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
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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