Water Island Capital LLC Invests $55.30 Million in Oaktree Capital Group LLC Unit (OAK) Stock

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.

COPYRIGHT VIOLATION NOTICE: “Water Island Capital LLC Invests $55.30 Million in Oaktree Capital Group LLC Unit (OAK) Stock” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2019/05/15/water-island-capital-llc-invests-55-30-million-in-oaktree-capital-group-llc-unit-oak-stock.html.

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.

Read More: What is Forex?

Want to see what other hedge funds are holding OAK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oaktree Capital Group LLC Unit (NYSE:OAK).

Institutional Ownership by Quarter for Oaktree Capital Group LLC Unit (NYSE:OAK)

Receive News & Ratings for Oaktree Capital Group LLC Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Capital Group LLC Unit and related companies with MarketBeat.com's FREE daily email newsletter.