Tuesday, March 21, 2017

Hedge Funds: "S&P downgrades Och-Ziff further into junk territory " (OZM)

Couldn't happen to a nicer bunch of guys.
Here's the recent action via FinViz:

OZM Och-Ziff Capital Management Group LLC daily Stock Chart
$2.16 down 0.14 (-6.09%)

From MarketWatch, Mar 20, 2017 4:56 p.m. ET:
S&P Global Ratings on Monday lowered Och-Ziff Capital Management LLC's OZM, -5.20% credit rating to BB from BB+, pushing it deeper into junk territory. "We now believe that the company's fixed costs are a bigger proportion of its expense base than we initially projected, which results in lower EBITDA at a time when the company's revenues are under stress due to lower assets under management and a lower management fee rate,"...MORE
Previously:
March 16
Hedge Funds: "Executives Abandon Och-Ziff Following $13 Billion In Withdrawals And An 80% Share Price Decline" (OZM)
Feb 2017
Och Ziff In Trouble: AUM Plunges After A Record $4.8 Billion In January Redemptions (OZM)


"We don't much care for these folks, some prior posts after the jump."


Barring a meltdown in the wider market the stock is probably getting close to a price where the bottom-feeders will gather.