Mainstay Capital Management LLC ADV Boosts Stake in Oaktree Capital Group LLC (OAK)
Mainstay Capital Management LLC ADV increased its position in Oaktree Capital Group LLC (NYSE:OAK) by 3,965.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,390 shares of the asset manager’s stock after purchasing an additional 23,790 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Oaktree Capital Group were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Squar Milner Financial Services LLC bought a new position in Oaktree Capital Group during the 2nd quarter valued at $102,000. Stelac Advisory Services LLC bought a new position in Oaktree Capital Group during the 2nd quarter valued at $118,000. Sei Investments Co. boosted its stake in Oaktree Capital Group by 1,310.0% during the 1st quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock valued at $140,000 after acquiring an additional 3,275 shares during the last quarter. EdgePoint Investment Group Inc. bought a new position in Oaktree Capital Group during the 2nd quarter valued at $167,000. Finally, Whittier Trust Co. bought a new position in Oaktree Capital Group during the 2nd quarter valued at $195,000. Institutional investors and hedge funds own 26.25% of the company’s stock.
A number of research analysts have commented on the stock. TheStreet upgraded shares of Oaktree Capital Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. Credit Suisse Group dropped their target price on shares of Oaktree Capital Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. Morgan Stanley dropped their target price on shares of Oaktree Capital Group from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, August 14th. Zacks Investment Research cut shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Friday, July 13th. Finally, ValuEngine raised shares of Oaktree Capital Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.20.
Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Thursday, July 26th. The asset manager reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $273.53 million for the quarter, compared to analyst estimates of $276.75 million. During the same period last year, the company posted $1.73 earnings per share. The firm’s revenue for the quarter was down 61.2% on a year-over-year basis. Sell-side analysts expect that Oaktree Capital Group LLC will post 2.69 EPS for the current fiscal year.
In other Oaktree Capital Group news, Director Larry W. Keele sold 8,333 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $41.40, for a total transaction of $344,986.20. Following the transaction, the director now owns 8,656 shares of the company’s stock, valued at approximately $358,358.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ocm Growth Holdings Llc bought 1,006,899 shares of the stock in a transaction on Friday, September 14th. The shares were bought 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.
Oaktree Capital Group Profile
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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