Oaktree Capital Management (OAK) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Oaktree Capital Management (NYSE:OAK) from a strong sell rating to a hold rating in a research report report published on Wednesday morning.

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. “

OAK has been the topic of a number of other reports. Deutsche Bank reduced their price target on shares of Oaktree Capital Management from $44.00 to $42.00 and set a hold rating on the stock in a research report on Friday, April 6th. Keefe, Bruyette & Woods cut shares of Oaktree Capital Management from an outperform rating to a market perform rating in a research report on Friday, April 27th. Morgan Stanley reduced 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 research report on Tuesday, April 10th. ValuEngine cut shares of Oaktree Capital Management from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Finally, JPMorgan Chase reduced their price target on shares of Oaktree Capital Management from $53.00 to $51.00 and set a neutral rating on the stock in a research report 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 given a buy rating to the company’s stock. Oaktree Capital Management currently has an average rating of Hold and an average price target of $49.40.

OAK opened at $39.80 on Wednesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.85 and a quick ratio of 1.85. Oaktree Capital Management has a 52 week low of $38.80 and a 52 week high of $48.50. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.86 and a beta of 0.69.

Oaktree Capital Management (NYSE:OAK) last released its earnings results on Thursday, April 26th. The asset manager reported $0.93 EPS for the quarter, topping 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%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. equities analysts expect that Oaktree Capital Management will post 3.08 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Monday, May 7th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 9.65%. This is a boost from Oaktree Capital Management’s previous quarterly dividend of $0.76. The ex-dividend date was Friday, May 4th. Oaktree Capital Management’s dividend payout ratio (DPR) is currently 96.73%.

In related news, major shareholder Oaktree Capital Management Lp acquired 23,700 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $7.66 per share, with a total value of $181,542.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Oaktree Capital Group Holdings sold 1,821,377 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $20.15, for a total transaction of $36,700,746.55. The disclosure for this sale can be found here. Over the last three months, insiders have bought 338,273 shares of company stock worth $2,271,905.

A number of institutional investors and hedge funds have recently bought and sold shares of OAK. Carroll Financial Associates Inc. lifted its position in 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 acquiring an additional 2,000 shares in the last quarter. Osborne Partners Capital Management LLC lifted its position in Oaktree Capital Management by 4.5% in the 4th quarter. Osborne Partners Capital Management LLC now owns 89,607 shares of the asset manager’s stock valued at $3,772,000 after acquiring an additional 3,871 shares in the last quarter. SOL Capital Management CO lifted its position in Oaktree Capital Management by 16.5% in the 4th quarter. SOL Capital Management CO now owns 48,050 shares of the asset manager’s stock valued at $2,023,000 after acquiring an additional 6,790 shares in the last quarter. CIBC World Markets Inc. lifted its position in Oaktree Capital Management by 70.2% in the 4th quarter. CIBC World Markets Inc. now owns 12,355 shares of the asset manager’s stock valued at $520,000 after acquiring an additional 5,094 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its position in Oaktree Capital Management by 5.8% in the 4th quarter. Beck Mack & Oliver LLC now owns 176,220 shares of the asset manager’s stock valued at $7,419,000 after acquiring an additional 9,700 shares in the last quarter. 23.19% of the stock is currently owned by institutional investors and hedge funds.

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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