Trade Report: The Oaktree Capital Group LLC (OAK) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

The Oaktree Capital Group LLC (OAK) Releases Quarterly  Earnings Results, Beats Estimates By $0.25 EPS

Oaktree Capital Group LLC (NYSE:OAK) released its quarterly earnings data on Friday. The company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.25. The company had revenue of $365.01 million for the quarter, compared to analysts’ expectations of $313.59 million. The business’s quarterly revenue was up 99.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 EPS.

Shares of Oaktree Capital Group (NYSE:OAK) opened at 42.70 on Monday. The company has a 50-day moving average price of $41.91 and a 200 day moving average price of $44.84. The firm has a market capitalization of $2.64 billion, a PE ratio of 0.05 and a beta of 0.50. Oaktree Capital Group has a 12-month low of $38.66 and a 12-month high of $52.15.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, November 7th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.09%. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, November 3rd.

A number of research firms have weighed in on OAK. Zacks Investment Research upgraded Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Thursday, July 21st. Deutsche Bank AG dropped their target price on Oaktree Capital Group from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Barclays PLC dropped their target price on Oaktree Capital Group from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, July 29th. Finally, Keefe, Bruyette & Woods dropped their target price on Oaktree Capital Group from $55.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Oaktree Capital Group has an average rating of “Buy” and a consensus price target of $49.83.

In other news, major shareholder Oaktree Capital Group Holdings purchased 7,564,290 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was purchased at an average cost of $3.00 per share, with a total value of $22,692,870.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman John Frank sold 16,667 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $45.09, for a total transaction of $751,515.03. Following the transaction, the insider now directly owns 89,817 shares of the company’s stock, valued at $4,049,848.53. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthsource Partners LLC boosted its position in Oaktree Capital Group by 1.4% in the second quarter. Wealthsource Partners LLC now owns 8,925 shares of the company’s stock valued at $399,000 after buying an additional 125 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in Oaktree Capital Group by 1.6% in the second quarter. Commonwealth Equity Services Inc now owns 13,287 shares of the company’s stock valued at $595,000 after buying an additional 215 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in Oaktree Capital Group by 0.5% in the second quarter. Alpha Omega Wealth Management LLC now owns 45,282 shares of the company’s stock valued at $2,027,000 after buying an additional 218 shares in the last quarter. Creative Planning boosted its position in Oaktree Capital Group by 1.5% in the second quarter. Creative Planning now owns 16,778 shares of the company’s stock valued at $751,000 after buying an additional 248 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Oaktree Capital Group by 0.4% in the second quarter. California Public Employees Retirement System now owns 85,500 shares of the company’s stock valued at $3,827,000 after buying an additional 300 shares in the last quarter.

Oaktree Capital Group Company Profile

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