Oaktree Capital Group, LLC (OAK) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Oaktree Capital Group, LLC (NYSE:OAK) from a hold rating to a sell rating in a research note issued to investors on Thursday.
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. “
Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of Oaktree Capital Group from a hold rating to a buy rating in a report on Saturday, August 5th. Jefferies Group LLC reiterated a hold rating and issued a $49.00 price objective on shares of Oaktree Capital Group in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) downgraded shares of Oaktree Capital Group from a buy rating to a neutral rating and decreased their price objective for the company from $50.00 to $49.00 in a report on Friday, July 28th. Finally, Morgan Stanley upped their price objective on shares of Oaktree Capital Group from $54.00 to $55.00 and gave the company an outperform rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $49.50.
Oaktree Capital Group (NYSE:OAK) traded down $0.60 during trading hours on Thursday, hitting $42.45. 196,400 shares of the company’s stock traded hands, compared to its average volume of 225,136. Oaktree Capital Group has a 12-month low of $36.95 and a 12-month high of $48.50. The firm has a market capitalization of $6,650.00, a P/E ratio of 10.18, a P/E/G ratio of 0.88 and a beta of 0.61. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.80 and a current ratio of 1.80.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. Oaktree Capital Group had a net margin of 19.04% and a return on equity of 18.88%. The firm had revenue of $304.80 million for the quarter, compared to the consensus estimate of $281.61 million. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. equities research analysts expect that Oaktree Capital Group will post 3.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Monday, November 6th were paid a $0.56 dividend. The ex-dividend date was Friday, November 3rd. This represents a $2.24 annualized dividend and a dividend yield of 5.28%. Oaktree Capital Group’s dividend payout ratio (DPR) is presently 51.49%.
In related news, Vice Chairman John Frank sold 16,666 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $46.72, for a total value of $778,635.52. Following the transaction, the insider now directly owns 41,667 shares in the company, valued at $1,946,682.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. lifted its position in Oaktree Capital Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 10,846 shares of the asset manager’s stock worth $505,000 after purchasing an additional 28 shares during the period. Westside Investment Management Inc. lifted its position in Oaktree Capital Group by 0.5% during the second quarter. Westside Investment Management Inc. now owns 19,075 shares of the asset manager’s stock worth $889,000 after purchasing an additional 100 shares during the period. Penserra Capital Management LLC lifted its position in Oaktree Capital Group by 10.0% during the second quarter. Penserra Capital Management LLC now owns 2,471 shares of the asset manager’s stock worth $115,000 after purchasing an additional 224 shares during the period. Advisor Group Inc. lifted its position in Oaktree Capital Group by 3.3% during the second quarter. Advisor Group Inc. now owns 8,820 shares of the asset manager’s stock worth $379,000 after purchasing an additional 283 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Oaktree Capital Group by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 4,618 shares of the asset manager’s stock worth $215,000 after purchasing an additional 299 shares during the period. 21.97% of the stock is owned by institutional investors and hedge funds.
Oaktree Capital Group Company Profile
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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