AMG National Trust Bank increased its position in shares of Oaktree Capital Group, LLC (NYSE:OAK) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,115 shares of the asset manager’s stock after purchasing an additional 3,271 shares during the quarter. AMG National Trust Bank owned 0.09% of Oaktree Capital Group worth $2,801,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bradley Foster & Sargent Inc. CT lifted its stake in Oaktree Capital Group by 26.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 44,475 shares of the asset manager’s stock worth $2,073,000 after purchasing an additional 9,175 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Oaktree Capital Group by 3.7% during the second quarter. Pinnacle Associates Ltd. now owns 11,325 shares of the asset manager’s stock worth $528,000 after purchasing an additional 400 shares during the last quarter. Westpac Banking Corp bought a new position in Oaktree Capital Group during the second quarter worth $5,760,000. Artemis Investment Management LLP bought a new position in Oaktree Capital Group during the second quarter worth $3,344,000. Finally, Bronfman E.L. Rothschild L.P. bought a new stake in Oaktree Capital Group in the second quarter valued at $110,000. Hedge funds and other institutional investors own 22.54% of the company’s stock.
A number of equities research analysts have issued reports on OAK shares. Morgan Stanley reiterated an “overweight” rating and issued a $54.00 target price (down from $56.00) on shares of Oaktree Capital Group in a research note on Monday, July 10th. BidaskClub cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC started coverage on 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, Goldman Sachs Group, Inc. (The) cut 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $47.50.
Shares of Oaktree Capital Group, LLC (NYSE OAK) traded up 0.22% during midday trading on Wednesday, hitting $45.25. 155,848 shares of the company were exchanged. The firm has a market cap of $2.90 billion, a P/E ratio of 9.87 and a beta of 0.61. The company’s 50 day moving average price is $46.62 and its 200 day moving average price is $46.21. Oaktree Capital Group, LLC 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 data on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, topping 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 company 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 firm earned $0.79 earnings per share. Equities analysts expect that Oaktree Capital Group, LLC will post $3.89 EPS for the current year.
In other news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $5.66, for a total value of $56,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman John Frank sold 16,666 shares of Oaktree Capital Group stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $46.72, for a total value of $778,635.52. Following the sale, the insider now directly owns 41,667 shares of the company’s stock, valued at $1,946,682.24. The disclosure for this sale can be found here.
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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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