BidaskClub Lowers Oaktree Capital Group, LLC (NYSE:OAK) to Hold

BidaskClub lowered shares of Oaktree Capital Group, LLC (NYSE:OAK) from a buy rating to a hold rating in a research report released on Monday, July 24th.

Several other research analysts have also commented on the company. TheStreet upgraded Oaktree Capital Group from a c+ rating to a b- rating in a research report on Monday, April 3rd. Jefferies Group LLC started coverage on Oaktree Capital Group in a research report on Wednesday, June 28th. They issued a hold rating and a $49.00 target price for the company. Deutsche Bank AG lifted their target price on Oaktree Capital Group from $44.00 to $45.00 and gave the stock a hold rating in a research report on Friday, April 28th. Finally, Morgan Stanley reissued an overweight rating and issued a $54.00 price target (down previously from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $47.50.

Shares of Oaktree Capital Group (NYSE:OAK) traded up 0.11% during midday trading on Monday, reaching $46.60. The company’s stock had a trading volume of 198,138 shares. Oaktree Capital Group has a 1-year low of $36.95 and a 1-year high of $48.50. The company’s 50-day moving average price is $47.26 and its 200 day moving average price is $46.08. The firm has a market capitalization of $2.99 billion, a PE ratio of 10.17 and a beta of 0.60.

Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, topping the consensus estimate of $1.47 by $0.26. The company had revenue of $704.36 million during the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.79 EPS. On average, equities research analysts forecast that Oaktree Capital Group will post $3.93 earnings per share for the current year.

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

In other Oaktree Capital Group news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of Oaktree Capital Group stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc bought 909,443 shares of the business’s stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $13,641,645.00. The disclosure for this purchase can be found here.

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Oaktree Capital Group by 24.9% in the first quarter. Morgan Stanley now owns 1,984,724 shares of the asset manager’s stock valued at $89,908,000 after buying an additional 395,918 shares during the last quarter. Capital World Investors increased its stake in shares of Oaktree Capital Group by 426.5% in the second quarter. Capital World Investors now owns 1,466,824 shares of the asset manager’s stock valued at $68,354,000 after buying an additional 1,188,224 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Oaktree Capital Group by 958.3% in the second quarter. Principal Financial Group Inc. now owns 1,159,853 shares of the asset manager’s stock valued at $54,048,000 after buying an additional 1,050,259 shares during the last quarter. Edge Asset Management Inc. boosted its position in shares of Oaktree Capital Group by 13.2% in the first quarter. Edge Asset Management Inc. now owns 1,032,699 shares of the asset manager’s stock valued at $46,781,000 after buying an additional 120,230 shares during the period. Finally, Markel Corp boosted its position in shares of Oaktree Capital Group by 16.4% in the second quarter. Markel Corp now owns 850,500 shares of the asset manager’s stock valued at $39,633,000 after buying an additional 120,000 shares during the period. 23.96% of the stock is currently owned by hedge funds and other 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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