Oaktree Capital Group LLC Unit (OAK) Hits New 52-Week High at $50.22

Oaktree Capital Group LLC Unit (NYSE:OAK) shares hit a new 52-week high on Monday . The stock traded as high as $50.22 and last traded at $50.25, with a volume of 49345 shares trading hands. The stock had previously closed at $50.06.

Several research analysts have weighed in on OAK shares. ValuEngine upgraded Oaktree Capital Group LLC Unit from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Zacks Investment Research upgraded Oaktree Capital Group LLC Unit from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Thursday, March 7th. Morgan Stanley downgraded Oaktree Capital Group LLC Unit from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Co raised their price target on Oaktree Capital Group LLC Unit from $44.00 to $49.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.50.

The company has a debt-to-equity ratio of 2.75, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market cap of $7.85 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.39 and a beta of 0.54.

Oaktree Capital Group LLC Unit (NYSE:OAK) last posted its quarterly earnings results on Tuesday, February 5th. The asset manager reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $290.17 million during the quarter, compared to analysts’ expectations of $244.20 million. Oaktree Capital Group LLC Unit had a return on equity of 16.17% and a net margin of 16.12%. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. Research analysts anticipate that Oaktree Capital Group LLC Unit will post 3.35 EPS for the current year.

In other news, major shareholder Oaktree Capital Group Holdings acquired 77,065 shares of Oaktree Capital Group LLC Unit stock in a transaction that occurred on Friday, March 29th. The stock was purchased at an average cost of $4.57 per share, with a total value of $352,187.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 147,938 shares of company stock valued at $675,376.

A number of hedge funds have recently modified their holdings of OAK. FMR LLC raised its holdings in Oaktree Capital Group LLC Unit by 24.0% during the fourth quarter. FMR LLC now owns 6,438,972 shares of the asset manager’s stock worth $255,949,000 after purchasing an additional 1,245,698 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Oaktree Capital Group LLC Unit by 51.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,736,011 shares of the asset manager’s stock worth $108,756,000 after purchasing an additional 925,604 shares during the last quarter. Bank of Montreal Can raised its holdings in Oaktree Capital Group LLC Unit by 180.5% during the fourth quarter. Bank of Montreal Can now owns 186,475 shares of the asset manager’s stock worth $7,413,000 after purchasing an additional 120,000 shares during the last quarter. River Road Asset Management LLC raised its holdings in Oaktree Capital Group LLC Unit by 17.4% during the fourth quarter. River Road Asset Management LLC now owns 369,732 shares of the asset manager’s stock worth $14,697,000 after purchasing an additional 54,846 shares during the last quarter. Finally, Ardevora Asset Management LLP increased its position in Oaktree Capital Group LLC Unit by 5.2% during the fourth quarter. Ardevora Asset Management LLP now owns 911,952 shares of the asset manager’s stock worth $36,250,000 after buying an additional 44,900 shares in the last quarter. 28.20% of the stock is owned by hedge funds and other institutional investors.

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Oaktree Capital Group LLC Unit Company Profile (NYSE:OAK)

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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