Oaktree Capital Group (NYSE:OAK) posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.72 EPS for the quarter, beating the consensus estimate of $0.55 by $0.17, Bloomberg Earnings reports. Oaktree Capital Group had a net margin of 15.75% and a return on equity of 18.06%. The business had revenue of $327.40 million during the quarter, compared to analyst estimates of $286.45 million. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year.
Oaktree Capital Group (NYSE OAK) traded down $0.05 during trading hours on Wednesday, reaching $42.60. 131,774 shares of the company’s stock traded hands, compared to its average volume of 331,641. The stock has a market cap of $6,678.19, a P/E ratio of 10.74, a PEG ratio of 0.95 and a beta of 0.62. Oaktree Capital Group has a 12 month low of $41.10 and a 12 month high of $48.50. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.80 and a current ratio of 1.80.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 16th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend is Thursday, February 15th. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.56. Oaktree Capital Group’s payout ratio is currently 61.88%.
In other Oaktree Capital Group news, Director Ocm Growth Holdings Llc acquired 1,413,922 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $21,208,830.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Oaktree Capital Management Lp acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $5.81 per share, with a total value of $232,400.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,682,236 shares of company stock worth $45,351,686.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. lifted its stake in shares of Oaktree Capital Group by 3.3% in the 2nd quarter. Advisor Group Inc. now owns 8,820 shares of the asset manager’s stock valued at $379,000 after purchasing an additional 283 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Oaktree Capital Group by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,618 shares of the asset manager’s stock valued at $215,000 after purchasing an additional 299 shares during the period. HighTower Advisors LLC lifted its stake in shares of Oaktree Capital Group by 2.6% in the 2nd quarter. HighTower Advisors LLC now owns 20,088 shares of the asset manager’s stock valued at $938,000 after purchasing an additional 517 shares during the period. Adalta Capital Management LLC lifted its stake in shares of Oaktree Capital Group by 24.0% in the 3rd quarter. Adalta Capital Management LLC now owns 6,075 shares of the asset manager’s stock valued at $286,000 after purchasing an additional 1,175 shares during the period. Finally, Intrepid Capital Management Inc. lifted its stake in shares of Oaktree Capital Group by 0.5% in the 3rd quarter. Intrepid Capital Management Inc. now owns 283,931 shares of the asset manager’s stock valued at $13,359,000 after purchasing an additional 1,475 shares during the period. Institutional investors and hedge funds own 22.61% of the company’s stock.
OAK has been the subject of several recent research reports. TheStreet lowered shares of Oaktree Capital Group from a “b-” rating to a “c+” rating in a report on Friday, November 17th. Zacks Investment Research downgraded shares of Oaktree Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. ValuEngine downgraded shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Oaktree Capital Group from $53.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.80.
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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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