Oppenheimer Holdings Comments on Oaktree Capital Group, LLC’s Q1 2018 Earnings (OAK)
Oaktree Capital Group, LLC (NYSE:OAK) – Analysts at Oppenheimer Holdings issued their Q1 2018 earnings per share (EPS) estimates for shares of Oaktree Capital Group in a note issued to investors on Thursday. Oppenheimer Holdings analyst L. Rudary anticipates that the asset manager will earn $0.84 per share for the quarter. Oppenheimer Holdings also issued estimates for Oaktree Capital Group’s Q3 2018 earnings at $0.94 EPS and Q4 2018 earnings at $0.99 EPS.
Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Thursday, October 26th. The asset manager reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. The company had revenue of $304.80 million for the quarter, compared to analysts’ expectations of $281.61 million. Oaktree Capital Group had a net margin of 19.04% and a return on equity of 18.97%. Oaktree Capital Group’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS.
Several other brokerages have also commented on OAK. Goldman Sachs Group, Inc. (The) lowered shares of Oaktree Capital Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $49.00 in a research report on Friday, July 28th. BidaskClub lowered shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Morgan Stanley lifted their price objective on shares of Oaktree Capital Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Oaktree Capital Group in a research report on Sunday, July 30th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Oaktree Capital Group presently has a consensus rating of “Hold” and a consensus target price of $49.50.
Oaktree Capital Group (OAK) opened at 47.05 on Monday. The company has a market capitalization of $3.02 billion, a PE ratio of 10.27 and a beta of 0.59. The firm has a 50-day moving average of $46.67 and a 200 day moving average of $46.61. Oaktree Capital Group has a 12-month low of $36.95 and a 12-month high of $48.50.
A number of hedge funds have recently made changes to their positions in OAK. Capital World Investors raised its position in 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 worth $68,354,000 after acquiring an additional 1,188,224 shares during the period. Principal Financial Group Inc. raised its position 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 purchasing an additional 1,050,259 shares during the period. Ardevora Asset Management LLP bought a new stake in shares of Oaktree Capital Group in the second quarter valued at approximately $34,596,000. Bank of Montreal Can raised its position in shares of Oaktree Capital Group by 341.7% in the second quarter. Bank of Montreal Can now owns 288,785 shares of the asset manager’s stock valued at $13,458,000 after purchasing an additional 223,400 shares during the period. Finally, Westpac Banking Corp bought a new stake in shares of Oaktree Capital Group in the second quarter valued at approximately $5,760,000. 21.89% of the stock is currently owned by institutional investors and hedge funds.
In other Oaktree Capital Group news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of Oaktree Capital Group stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $5.66, for a total value of $56,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman John Frank sold 16,666 shares of Oaktree Capital Group stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $46.72, for a total transaction of $778,635.52. Following the completion of the sale, the insider now directly owns 41,667 shares in the company, valued at approximately $1,946,682.24. The disclosure for this sale can be found here.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Monday, November 6th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Friday, November 3rd. Oaktree Capital Group’s dividend payout ratio is 120.46%.
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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