Och-Ziff Capital Management Group LLC (NYSE:OZM) shares are up big today after the company announced that CEO and Chairman Dan Och will be presenting at the upcoming Goldman Sachs U.S. Financial Services Conference, scheduled to take place in New York on December 8, where he will discuss the company’s strategy for growth.
While this news alone certainly isn’t the reason for a huge investor interest in early morning trading, the share price is more likely responding to a recent forecast by Zacks Research, in which they predict earnings of $0.79 per share during their next quarterly update, this Friday (compared to just $0.13 for the quarter ended September 30, 2015). Zacks also has stated a price target of $9.75 for the stock in the coming year.
The stock is up 10.05% or $0.62 following the news, hitting $6.79 per share. About 597,851 shares traded hands. OZM has declined 52.50% since April 29, 2015 and is downtrending. It has underperformed the S&P500 by 52.30%.
From a total of 8 analysts covering Och-Ziff Capital Management Group (NYSE:OZM) stock, 6 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 75% of the ratings are positive. The highest target price is $14 while the lowest target price is $7.50. The mean of all analyst targets is $10.81 which is 59.20% above today’s ($6.79) stock price. Och-Ziff Capital Management Group was the topic of 14 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Keefe Bruyette & Woods upgraded shares on November 23 to a “Outperform” rating. Citigroup downgraded OZM stock in a recent report from October 12 to a “Neutral” rating. Finally, Goldman Sachs initiated the stock with a “Neutral” rating in a report they issued on an August 11.
The institutional sentiment increased to 1.47 in Q2 2015. It’s up 0.49, from 0.98 in 2015Q1. The ratio improved, as 15 funds sold all their Och-Ziff Capital Management Group LLC shares they owned while 23 reduced their positions. 24 funds bought stakes while 32 increased their total positions. Institutions now own 91.71 million shares which is 4.27% more than the previous share count of 87.95 million in 2015Q1.
Credit Capital Investments Llc holds 3.05% of its total portfolio in Och-Ziff Capital Management Group LLC, equating to 400,922 shares. Walnut Private Equity Partners Llc owns 360,000 shares representing 2.64% of their total US portfolio. Moreover, Zweig has 1.59% of their total portfolio invested in the company, equating to 2.36 million shares. The Massachusetts-based Century Capital Management Llc has a total of 1.26% of their portfolio invested in the stock. Mcglinn Capital Management Inc, a Pennsylvania-based fund reported 43,850 shares owned.
Och-Ziff Capital Management Group LLC is a global institutional alternative asset manager. The company has a market cap of $1.20 billion. The Firm provides asset management services through its funds, which pursue a range of global investment opportunities. It has 10.04 P/E ratio. The Firm offers customized solutions within and across its product platforms to help its fund investors meet their investment objectives.