Zacks Investment Research downgraded shares of Oaktree Capital Management (NYSE:OAK) from a hold rating to a strong sell rating in a research report report published on Wednesday, May 9th.
According to Zacks, “Oaktree Capital Group, LLC is an investment management firm focused on alternative markets. It specializes in credit and contrarian, value-oriented investing. The Company manages funds in investment strategies that fall into the six asset classes, which include: distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities. Oaktree Capital Group, LLC is based in Chicago, Illinois. “
A number of other analysts also recently commented on OAK. Deutsche Bank dropped their target price on shares of Oaktree Capital Management from $44.00 to $42.00 and set a hold rating on the stock in a report on Friday, April 6th. Keefe, Bruyette & Woods lowered shares of Oaktree Capital Management from an outperform rating to a market perform rating in a report on Friday, April 27th. Morgan Stanley cut their price target on shares of Oaktree Capital Management from $57.00 to $56.00 and set an overweight rating on the stock in a report on Tuesday, April 10th. ValuEngine lowered shares of Oaktree Capital Management from a hold rating to a sell rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase dropped their price objective on shares of Oaktree Capital Management from $53.00 to $51.00 and set a neutral rating on the stock in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $49.40.
Shares of NYSE OAK traded down $0.35 during midday trading on Wednesday, hitting $39.55. The company’s stock had a trading volume of 4,551 shares, compared to its average volume of 357,315. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $6.21 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.85 and a beta of 0.69. Oaktree Capital Management has a 1-year low of $39.45 and a 1-year high of $39.65.
Oaktree Capital Management (NYSE:OAK) last posted its earnings results on Thursday, April 26th. The asset manager reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.23. The firm had revenue of $451.20 million during the quarter, compared to analyst estimates of $331.82 million. Oaktree Capital Management had a net margin of 15.11% and a return on equity of 12.90%. Oaktree Capital Management’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. equities analysts forecast that Oaktree Capital Management will post 3.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Monday, May 7th were paid a $0.96 dividend. This is a boost from Oaktree Capital Management’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Friday, May 4th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 9.71%. Oaktree Capital Management’s dividend payout ratio is currently 96.73%.
In other Oaktree Capital Management news, Director Oaktree Capital Group Holdings sold 1,821,377 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $20.15, for a total transaction of $36,700,746.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Oaktree Capital Management Lp acquired 23,700 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average cost of $7.72 per share, for a total transaction of $182,964.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 338,273 shares of company stock valued at $2,271,905.
Several hedge funds and other institutional investors have recently modified their holdings of OAK. Carroll Financial Associates Inc. boosted its stake in shares of Oaktree Capital Management by 200.0% in the 4th quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 2,000 shares during the last quarter. Sei Investments Co. boosted its stake in Oaktree Capital Management by 1,310.0% during the 1st quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock worth $140,000 after acquiring an additional 3,275 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Oaktree Capital Management during the 4th quarter worth approximately $175,000. North Star Investment Management Corp. raised its holdings in Oaktree Capital Management by 235.3% during the 4th quarter. North Star Investment Management Corp. now owns 4,208 shares of the asset manager’s stock worth $177,000 after buying an additional 2,953 shares during the period. Finally, 180 Wealth Advisors LLC acquired a new stake in Oaktree Capital Management during the 4th quarter worth approximately $201,000. 23.19% of the stock is currently owned by institutional investors.
About Oaktree Capital Management
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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