Water Island Capital LLC acquired a new stake in Oaktree Capital Group LLC Unit (NYSE:OAK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,113,860 shares of the asset manager’s stock, valued at approximately $55,303,000. Oaktree Capital Group LLC Unit comprises about 2.8% of Water Island Capital LLC’s portfolio, making the stock its 16th biggest position.
A number of other hedge funds have also made changes to their positions in the business. FMR LLC raised its holdings in Oaktree Capital Group LLC Unit by 24.0% in the fourth quarter. FMR LLC now owns 6,438,972 shares of the asset manager’s stock worth $255,949,000 after purchasing an additional 1,245,698 shares during the period. Mackenzie Financial Corp raised its holdings in Oaktree Capital Group LLC Unit by 51.1% in the fourth quarter. Mackenzie Financial Corp now owns 2,736,011 shares of the asset manager’s stock worth $108,756,000 after purchasing an additional 925,604 shares during the period. Gabelli Funds LLC acquired a new stake in Oaktree Capital Group LLC Unit in the first quarter worth $9,706,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Oaktree Capital Group LLC Unit in the first quarter worth $7,912,000. Finally, Bank of Montreal Can raised its holdings in Oaktree Capital Group LLC Unit by 84.0% in the first quarter. Bank of Montreal Can now owns 343,163 shares of the asset manager’s stock worth $17,038,000 after purchasing an additional 156,688 shares during the period. 30.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:OAK traded up $0.01 during midday trading on Wednesday, reaching $49.27. 36,421 shares of the company were exchanged, compared to its average volume of 829,434. Oaktree Capital Group LLC Unit has a fifty-two week low of $38.65 and a fifty-two week high of $50.76. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 2.75. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.33 and a beta of 0.54.
Oaktree Capital Group LLC Unit (NYSE:OAK) last issued its quarterly earnings data on Thursday, April 25th. The asset manager reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.18. Oaktree Capital Group LLC Unit had a net margin of 17.09% and a return on equity of 18.61%. The business had revenue of $266.42 million for the quarter, compared to analyst estimates of $522.21 million. During the same period last year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was down 21.0% on a year-over-year basis. Research analysts expect that Oaktree Capital Group LLC Unit will post 3.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Monday, May 6th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 8.52%. This is a positive change from Oaktree Capital Group LLC Unit’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, May 3rd. Oaktree Capital Group LLC Unit’s dividend payout ratio (DPR) is presently 159.70%.
In other Oaktree Capital Group LLC Unit news, Director Ocm Growth Holdings Llc purchased 1,628,366 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $15.16 per share, for a total transaction of $24,686,028.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Oaktree Capital Group Holdings purchased 32,516 shares of the stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average price of $4.69 per share, for a total transaction of $152,500.04. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,776,304 shares of company stock worth $25,361,404.
Several research firms have weighed in on OAK. ValuEngine lowered shares of Oaktree Capital Group LLC Unit from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Wells Fargo & Co raised their price objective on shares of Oaktree Capital Group LLC Unit from $44.00 to $49.00 and gave the stock a “market perform” rating in a report on Thursday, March 14th. Morgan Stanley lowered shares of Oaktree Capital Group LLC Unit from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 14th. Finally, Zacks Investment Research upgraded shares of Oaktree Capital Group LLC Unit from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Thursday, March 7th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Oaktree Capital Group LLC Unit currently has an average rating of “Hold” and a consensus price target of $46.50.
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Oaktree Capital Group LLC Unit Company Profile
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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