Morgan Stanley Cuts Oaktree Capital Group (OAK) Price Target to $47.00

Oaktree Capital Group (NYSE:OAK) had its price target reduced by Morgan Stanley from $48.00 to $47.00 in a research note released on Tuesday. They currently have a buy rating on the asset manager’s stock.

OAK has been the subject of several other research reports. Credit Suisse Group reduced their price objective on shares of Oaktree Capital Group from $45.00 to $44.00 and set a neutral rating for the company in a research report on Friday, July 27th. Oppenheimer restated a hold rating on shares of Oaktree Capital Group in a research report on Monday, July 30th. ValuEngine upgraded shares of Oaktree Capital Group from a strong sell rating to a sell rating in a research report on Tuesday, July 31st. TheStreet upgraded shares of Oaktree Capital Group from a c+ rating to a b- rating in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Oaktree Capital Group from $50.00 to $47.00 and set a neutral rating for the company in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $45.20.

Shares of Oaktree Capital Group stock opened at $40.57 on Tuesday. Oaktree Capital Group has a 52-week low of $38.65 and a 52-week high of $47.80. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.49. The company has a market capitalization of $6.51 billion, a P/E ratio of 10.22, a PEG ratio of 1.02 and a beta of 0.71.

Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings results on Thursday, July 26th. The asset manager reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Oaktree Capital Group had a return on equity of 9.38% and a net margin of 13.05%. The firm had revenue of $273.53 million during the quarter, compared to analysts’ expectations of $276.75 million. During the same quarter in the prior year, the firm earned $1.73 EPS. The firm’s revenue was down 61.2% compared to the same quarter last year. On average, equities research analysts anticipate that Oaktree Capital Group will post 2.69 EPS for the current fiscal year.

In other news, Director Larry W. Keele sold 8,333 shares of Oaktree Capital Group stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $41.40, for a total value of $344,986.20. Following the transaction, the director now directly owns 8,656 shares of the company’s stock, valued at approximately $358,358.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc bought 1,006,899 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $15.02 per share, for a total transaction of $15,123,622.98. The disclosure for this purchase can be found here.

Several institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. increased its stake in Oaktree Capital Group by 4.1% in the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the asset manager’s stock valued at $1,445,000 after buying an additional 1,450 shares during the period. Washington Capital Management Inc. increased its stake in Oaktree Capital Group by 14.4% in the 2nd quarter. Washington Capital Management Inc. now owns 11,900 shares of the asset manager’s stock valued at $484,000 after buying an additional 1,500 shares during the period. Mckinley Capital Management LLC Delaware increased its stake in Oaktree Capital Group by 5.1% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 32,346 shares of the asset manager’s stock valued at $1,315,000 after buying an additional 1,583 shares during the period. Westpac Banking Corp increased its stake in Oaktree Capital Group by 1.1% in the 2nd quarter. Westpac Banking Corp now owns 146,012 shares of the asset manager’s stock valued at $5,935,000 after buying an additional 1,612 shares during the period. Finally, Everett Harris & Co. CA increased its stake in Oaktree Capital Group by 6.4% in the 2nd quarter. Everett Harris & Co. CA now owns 30,169 shares of the asset manager’s stock valued at $1,226,000 after buying an additional 1,824 shares during the period. 26.25% of the stock is currently owned by institutional investors and hedge funds.

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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