Oaktree Capital Group LLC (OAK) Receives Consensus Recommendation of “Hold” from Analysts
Oaktree Capital Group LLC (NYSE:OAK) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $41.50.
A number of brokerages have recently commented on OAK. TheStreet upgraded Oaktree Capital Group from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Zacks Investment Research cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 8th. Finally, Deutsche Bank AG increased their price target on Oaktree Capital Group from $44.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, April 28th.
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Oaktree Capital Group (NYSE:OAK) traded up 1.22% during midday trading on Monday, hitting $45.70. The stock had a trading volume of 58,990 shares. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 12.96 and a beta of 0.53. The company has a 50-day moving average of $45.87 and a 200-day moving average of $42.95. Oaktree Capital Group has a 1-year low of $36.95 and a 1-year high of $48.94.
Oaktree Capital Group (NYSE:OAK) last announced its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08. Oaktree Capital Group had a return on equity of 15.40% and a net margin of 17.30%. The company had revenue of $391.20 million during the quarter, compared to analysts’ expectations of $341.84 million. During the same period in the prior year, the company earned $0.49 EPS. Oaktree Capital Group’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts forecast that Oaktree Capital Group will post $3.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Monday, May 8th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.29%. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, May 4th. Oaktree Capital Group’s dividend payout ratio is presently 83.87%.
In related news, Vice Chairman John Frank sold 16,852 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $45.11, for a total value of $760,193.72. Following the completion of the sale, the insider now directly owns 58,333 shares in the company, valued at $2,631,401.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry W. Keele sold 8,334 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $45.34, for a total value of $377,863.56. Following the completion of the sale, the director now owns 58,655 shares of the company’s stock, valued at $2,659,417.70. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC increased its stake in Oaktree Capital Group by 122.0% in the first quarter. Penserra Capital Management LLC now owns 2,247 shares of the asset manager’s stock worth $101,000 after buying an additional 1,235 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Oaktree Capital Group during the first quarter worth $103,000. Envestnet Asset Management Inc. bought a new stake in Oaktree Capital Group during the fourth quarter worth $192,000. Moors & Cabot Inc. increased its stake in Oaktree Capital Group by 5.5% in the third quarter. Moors & Cabot Inc. now owns 4,800 shares of the asset manager’s stock worth $204,000 after buying an additional 250 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in Oaktree Capital Group during the fourth quarter worth $207,000. Institutional investors and hedge funds own 22.82% of the company’s stock.
About Oaktree Capital Group
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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