Oaktree Capital Group, LLC (NYSE:OAK) Holdings Cut by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in shares of Oaktree Capital Group, LLC (NYSE:OAK) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,795 shares of the asset manager’s stock after selling 153 shares during the quarter. Synovus Financial Corp’s holdings in Oaktree Capital Group were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OAK. Alps Advisors Inc. grew its stake in shares of Oaktree Capital Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,846 shares of the asset manager’s stock worth $505,000 after acquiring an additional 28 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Oaktree Capital Group by 0.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 19,714 shares of the asset manager’s stock worth $919,000 after acquiring an additional 107 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Oaktree Capital Group by 1.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,798 shares of the asset manager’s stock worth $489,000 after buying an additional 196 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Oaktree Capital Group by 10.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,471 shares of the asset manager’s stock worth $115,000 after buying an additional 224 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Oaktree Capital Group by 4.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,344 shares of the asset manager’s stock worth $243,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

OAK has been the topic of a number of research analyst reports. Jefferies Group LLC initiated coverage on shares of Oaktree Capital Group in a report on Wednesday, June 28th. They issued a “hold” rating and a $49.00 price target on the stock. BidaskClub downgraded shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $54.00 price objective (down from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Oaktree Capital Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $49.00 in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $47.50.

In other Oaktree Capital Group news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of Oaktree Capital Group stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman John Frank sold 16,666 shares of Oaktree Capital Group stock in a transaction dated 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, LLC (NYSE OAK) opened at 46.55 on Friday. The company has a market capitalization of $2.99 billion, a PE ratio of 10.16 and a beta of 0.61. The firm’s 50-day moving average is $46.20 and its 200-day moving average is $46.23. Oaktree Capital Group, LLC has a 12 month low of $36.95 and a 12 month high of $48.50.

Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.26. The business had revenue of $704.36 million during the quarter, compared to analysts’ expectations of $592.84 million. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities analysts anticipate that Oaktree Capital Group, LLC will post $3.89 EPS for the current fiscal year.

Oaktree Capital Group 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.

Institutional Ownership by Quarter for Oaktree Capital Group (NYSE:OAK)

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