Oaktree Capital Group, LLC (NYSE:OAK) Upgraded at BidaskClub

BidaskClub upgraded shares of Oaktree Capital Group, LLC (NYSE:OAK) from a hold rating to a buy rating in a research note published on Saturday, August 5th.

Other research analysts also recently issued research reports about the stock. Jefferies Group LLC started coverage on shares of Oaktree Capital Group in a research report on Wednesday, June 28th. They set a hold rating and a $49.00 price target for the company. Deutsche Bank AG upped their price target on shares of Oaktree Capital Group from $44.00 to $45.00 and gave the stock a hold rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) downgraded shares of Oaktree Capital Group from a buy rating to a neutral rating and reduced their price target for the stock from $50.00 to $49.00 in a research report on Friday, July 28th. Finally, Morgan Stanley reiterated an overweight rating and issued a $54.00 price objective (down previously from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Oaktree Capital Group presently has an average rating of Hold and a consensus price target of $47.50.

Shares of Oaktree Capital Group (OAK) traded up 0.11% during mid-day trading on Friday, hitting $46.60. The company’s stock had a trading volume of 198,138 shares. The stock’s 50 day moving average price is $47.26 and its 200 day moving average price is $46.08. Oaktree Capital Group has a 52-week low of $36.95 and a 52-week high of $48.50. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 10.17 and a beta of 0.60.

Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.26. Oaktree Capital Group had a net margin of 19.17% and a return on equity of 20.11%. The firm had revenue of $704.36 million during the quarter, compared to the consensus estimate of $592.84 million. During the same quarter in the prior year, the firm earned $0.79 EPS. Equities analysts forecast that Oaktree Capital Group will post $3.93 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, August 7th were issued a dividend of $1.31 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $5.24 dividend on an annualized basis and a dividend yield of 11.24%. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.71. Oaktree Capital Group’s dividend payout ratio (DPR) is currently 114.66%.

In related news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $15.00 per share, with a total value of $13,641,645.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of the stock. Beck Mack & Oliver LLC boosted its position in shares of Oaktree Capital Group by 119.0% in the first quarter. Beck Mack & Oliver LLC now owns 110,795 shares of the asset manager’s stock valued at $5,019,000 after buying an additional 60,195 shares in the last quarter. Financial Architects Inc boosted its position in shares of Oaktree Capital Group by 2.9% in the first quarter. Financial Architects Inc now owns 4,747 shares of the asset manager’s stock valued at $215,000 after buying an additional 135 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Oaktree Capital Group during the first quarter valued at approximately $103,000. K.J. Harrison & Partners Inc boosted its position in shares of Oaktree Capital Group by 23.1% in the first quarter. K.J. Harrison & Partners Inc now owns 97,926 shares of the asset manager’s stock valued at $4,436,000 after buying an additional 18,364 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Oaktree Capital Group by 6.4% in the first quarter. Janney Montgomery Scott LLC now owns 28,556 shares of the asset manager’s stock valued at $1,294,000 after buying an additional 1,715 shares in the last quarter. 23.96% of the stock is owned by institutional investors.

Oaktree Capital Group Company 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.

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