Morgan Stanley Cuts Oaktree Capital Group (OAK) Price Target to $56.00

Oaktree Capital Group (NYSE:OAK) had its target price decreased by Morgan Stanley from $57.00 to $56.00 in a research note issued to investors on Tuesday. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

Several other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Oaktree Capital Group from a buy rating to a hold rating in a report on Sunday, December 31st. Zacks Investment Research downgraded shares of Oaktree Capital Group from a hold rating to a sell rating in a report on Tuesday, February 13th. JPMorgan Chase dropped their target price on shares of Oaktree Capital Group from $53.00 to $51.00 and set a neutral rating for the company in a report on Tuesday, February 13th. Finally, Deutsche Bank dropped their target price on shares of Oaktree Capital Group from $44.00 to $42.00 and set a hold rating for the company in a report on Friday, April 6th. One 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 stock has a consensus rating of Hold and a consensus target price of $49.40.

NYSE:OAK opened at $39.25 on Tuesday. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 2.39. Oaktree Capital Group has a twelve month low of $38.80 and a twelve month high of $48.50. The stock has a market cap of $6,149.03, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69.



Oaktree Capital Group (NYSE:OAK) last posted its earnings results on Tuesday, February 6th. The asset manager reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.17. Oaktree Capital Group had a net margin of 15.75% and a return on equity of 18.04%. The firm had revenue of $327.40 million during the quarter, compared to the consensus estimate of $286.45 million. During the same period last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. research analysts forecast that Oaktree Capital Group will post 3.36 EPS for the current year.

In other news, major shareholder Oaktree Capital Management Lp purchased 72,908 shares of the stock in a transaction dated Monday, April 2nd. The stock was acquired at an average cost of $6.04 per share, for a total transaction of $440,364.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Oaktree Capital Group Holdings sold 1,821,377 shares of Oaktree Capital Group stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $20.15, for a total transaction of $36,700,746.55. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 529,796 shares of company stock valued at $3,290,379.

Several hedge funds and other institutional investors have recently modified their holdings of OAK. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Oaktree Capital Group by 31.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,238 shares of the asset manager’s stock worth $1,093,000 after buying an additional 5,603 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Oaktree Capital Group by 7.0% in the third quarter. California Public Employees Retirement System now owns 78,888 shares of the asset manager’s stock worth $3,712,000 after acquiring an additional 5,188 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Oaktree Capital Group in the third quarter worth approximately $327,000. Moors & Cabot Inc. acquired a new stake in shares of Oaktree Capital Group in the third quarter worth approximately $218,000. Finally, Gofen & Glossberg LLC IL boosted its position in shares of Oaktree Capital Group by 8.7% in the third quarter. Gofen & Glossberg LLC IL now owns 135,500 shares of the asset manager’s stock worth $6,375,000 after acquiring an additional 10,900 shares during the last quarter. Institutional investors and hedge funds own 22.95% of the company’s stock.

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About Oaktree Capital Group

Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.

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