Oaktree Capital Group, LLC (OAK) Receives Consensus Rating of “Hold” from Brokerages
Oaktree Capital Group, LLC (NYSE:OAK) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $47.20.
Several equities research analysts recently weighed in on OAK shares. Jefferies Group LLC started coverage on Oaktree Capital Group in a report on Wednesday, June 28th. They set a “hold” rating and a $49.00 price target for the company. Deutsche Bank AG increased their price target on Oaktree Capital Group from $44.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, April 28th. BidaskClub raised Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Goldman Sachs Group, Inc. (The) downgraded Oaktree Capital Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $49.00 in a report on Friday, July 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $54.00 target price (down previously from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th.
In related news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $13,641,645.00. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Hedge funds have recently bought and sold shares of the company. K.J. Harrison & Partners Inc boosted its stake in Oaktree Capital Group by 23.1% in the first quarter. K.J. Harrison & Partners Inc now owns 97,926 shares of the asset manager’s stock worth $4,436,000 after buying an additional 18,364 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Oaktree Capital Group by 6.4% in the first quarter. Janney Montgomery Scott LLC now owns 28,556 shares of the asset manager’s stock worth $1,294,000 after buying an additional 1,715 shares in the last quarter. River Road Asset Management LLC boosted its stake in Oaktree Capital Group by 56.1% in the first quarter. River Road Asset Management LLC now owns 203,475 shares of the asset manager’s stock worth $9,217,000 after buying an additional 73,111 shares in the last quarter. Osborne Partners Capital Management LLC raised its stake in shares of Oaktree Capital Group by 1.1% in the first quarter. Osborne Partners Capital Management LLC now owns 82,397 shares of the asset manager’s stock worth $3,733,000 after buying an additional 885 shares during the last quarter. Finally, Rothschild Investment Corp IL acquired a new stake in shares of Oaktree Capital Group during the first quarter worth about $342,000. Hedge funds and other institutional investors own 23.23% of the company’s stock.
Oaktree Capital Group (OAK) opened at 47.45 on Tuesday. The stock has a market cap of $3.05 billion, a PE ratio of 10.35 and a beta of 0.60. Oaktree Capital Group has a 52-week low of $36.95 and a 52-week high of $48.50. The firm has a 50 day moving average of $47.38 and a 200-day moving average of $45.68.
Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.26. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. The firm had revenue of $704.36 million during the quarter, compared to the consensus estimate of $592.84 million. During the same period last year, the company earned $0.79 earnings per share. Equities analysts anticipate that Oaktree Capital Group will post $3.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Monday, August 7th will be given a $1.31 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $5.24 dividend on an annualized basis and a dividend yield of 11.04%. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.71. Oaktree Capital Group’s dividend payout ratio (DPR) is currently 114.66%.
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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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