Greenwich Investment Management Inc. raised its holdings in Oaktree Capital Group LLC (NYSE:OAK) by 1,155.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,100 shares of the asset manager’s stock after buying an additional 63,595 shares during the quarter. Oaktree Capital Group accounts for about 2.9% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 13th largest position. Greenwich Investment Management Inc.’s holdings in Oaktree Capital Group were worth $2,809,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Squar Milner Financial Services LLC acquired a new stake in Oaktree Capital Group in the 2nd quarter valued at approximately $102,000. Stelac Advisory Services LLC acquired a new stake in shares of Oaktree Capital Group during the 2nd quarter worth approximately $118,000. Sei Investments Co. grew its holdings in shares of Oaktree Capital Group by 1,310.0% during the 1st quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock worth $140,000 after purchasing an additional 3,275 shares in the last quarter. Whittier Trust Co. acquired a new stake in shares of Oaktree Capital Group during the 2nd quarter worth approximately $195,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of Oaktree Capital Group during the 1st quarter worth approximately $221,000. 26.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:OAK remained flat at $$41.45 during trading on Thursday. The stock had a trading volume of 13,621 shares, compared to its average volume of 279,590. Oaktree Capital Group LLC has a one year low of $38.80 and a one year high of $48.05. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.02 and a beta of 0.72. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.88 and a quick ratio of 1.88.
Oaktree Capital Group (NYSE:OAK) last posted its earnings results on Thursday, July 26th. The asset manager reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The company had revenue of $273.53 million for the quarter, compared to the consensus estimate of $276.75 million. Oaktree Capital Group had a return on equity of 9.38% and a net margin of 13.05%. Oaktree Capital Group’s quarterly revenue was down 61.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 EPS. equities research analysts anticipate that Oaktree Capital Group LLC will post 2.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Monday, August 6th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $2.20 annualized dividend and a dividend yield of 5.31%. Oaktree Capital Group’s dividend payout ratio (DPR) is presently 55.42%.
OAK has been the topic of several recent research reports. Zacks Investment Research lowered Oaktree Capital Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 9th. Credit Suisse Group decreased their price objective on Oaktree Capital Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. JPMorgan Chase & Co. decreased their price objective on Oaktree Capital Group from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. ValuEngine lowered Oaktree Capital Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, TheStreet raised Oaktree Capital Group from a “c+” rating to a “b-” rating in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.40.
In related news, insider Todd E. Molz sold 16,316 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $41.30, for a total transaction of $673,850.80. Following the completion of the transaction, the insider now owns 95,318 shares in the company, valued at approximately $3,936,633.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry W. Keele sold 8,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $41.40, for a total value of $344,986.20. Following the transaction, the director now owns 8,656 shares of the company’s stock, valued at approximately $358,358.40. The disclosure for this sale can be found here.
Oaktree Capital Group 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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