Oaktree Capital Group Holdings Sells 10,000,000 Shares of Oaktree Capital Group, LLC (OAK) Stock
Oaktree Capital Group, LLC (NYSE:OAK) Director Oaktree Capital Group Holdings sold 10,000,000 shares of Oaktree Capital Group stock in a transaction on 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 available at this hyperlink.
Oaktree Capital Group, LLC (NYSE:OAK) traded down 0.95% during midday trading on Wednesday, hitting $47.00. The stock had a trading volume of 345,386 shares. The stock’s 50-day moving average is $47.38 and its 200-day moving average is $45.68. The company has a market cap of $3.02 billion, a P/E ratio of 10.26 and a beta of 0.60. Oaktree Capital Group, LLC has a one year low of $36.95 and a one year high of $48.50.
Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, beating the consensus estimate of $1.47 by $0.26. The company had revenue of $704.36 million during the quarter, compared to analysts’ expectations of $592.84 million. Oaktree Capital Group had a net margin of 19.17% and a return on equity of 20.11%. During the same quarter in the previous year, the company posted $0.79 EPS. Equities analysts predict that Oaktree Capital Group, LLC will post $3.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be given a dividend of $1.31 per share. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $5.24 annualized dividend and a dividend yield of 11.15%. Oaktree Capital Group’s payout ratio is presently 114.66%.
Several hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC boosted 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 in the last quarter. Russell Investments Group Ltd. purchased a new stake in Oaktree Capital Group during the first quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. purchased a new stake in Oaktree Capital Group during the second quarter worth approximately $110,000. US Bancorp DE boosted its stake in Oaktree Capital Group by 59.2% in the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock worth $141,000 after buying an additional 1,125 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in Oaktree Capital Group during the second quarter worth approximately $209,000. Institutional investors own 23.23% of the company’s stock.
OAK has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price target (down from $56.00) on shares of Oaktree Capital Group in a research report on Monday, July 10th. Deutsche Bank AG raised their price objective on Oaktree Capital Group from $44.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. BidaskClub lowered Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC assumed coverage on Oaktree Capital Group in a research note on Wednesday, June 28th. They set a “hold” rating and a $49.00 price objective for the company. Finally, Goldman Sachs Group, Inc. (The) lowered Oaktree Capital Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $49.00 in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Oaktree Capital Group currently has an average rating of “Hold” and a consensus price target of $47.50.
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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