Kornitzer Capital Management Inc. KS Invests $5.213 Million in Oaktree Capital Group LLC (OAK)

Kornitzer Capital Management Inc. KS Invests $5.213 Million in Oaktree Capital Group LLC (OAK)

Kornitzer Capital Management Inc. KS acquired a new position in shares of Oaktree Capital Group LLC (NYSE:OAK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 115,085 shares of the asset manager’s stock, valued at approximately $5,213,000. Kornitzer Capital Management Inc. KS owned 0.18% of Oaktree Capital Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley boosted its position in Oaktree Capital Group by 21.2% in the third quarter. Morgan Stanley now owns 1,577,556 shares of the asset manager’s stock worth $66,888,000 after buying an additional 275,678 shares during the period. Edge Asset Management Inc. raised its stake in shares of Oaktree Capital Group by 29.3% in the fourth quarter. Edge Asset Management Inc. now owns 912,469 shares of the asset manager’s stock worth $34,218,000 after buying an additional 206,582 shares in the last quarter. Markel Corp raised its stake in shares of Oaktree Capital Group by 5.0% in the first quarter. Markel Corp now owns 730,500 shares of the asset manager’s stock worth $33,092,000 after buying an additional 35,000 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in shares of Oaktree Capital Group by 5.1% in the fourth quarter. Thornburg Investment Management Inc. now owns 714,136 shares of the asset manager’s stock worth $26,780,000 after buying an additional 34,400 shares in the last quarter. Finally, Global Endowment Management LP raised its stake in shares of Oaktree Capital Group by 20.3% in the third quarter. Global Endowment Management LP now owns 712,340 shares of the asset manager’s stock worth $30,203,000 after buying an additional 120,000 shares in the last quarter. Institutional investors and hedge funds own 22.82% of the company’s stock.

Shares of Oaktree Capital Group LLC (NYSE:OAK) traded up 0.67% during mid-day trading on Friday, hitting $45.15. 218,207 shares of the stock were exchanged. The company has a 50-day moving average price of $45.85 and a 200-day moving average price of $42.66. Oaktree Capital Group LLC has a 12 month low of $36.95 and a 12 month high of $48.94. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 12.81 and a beta of 0.53.

Oaktree Capital Group (NYSE:OAK) last released its earnings results on Thursday, April 27th. The asset manager reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.08. The company earned $391.20 million during the quarter, compared to the consensus estimate of $341.84 million. Oaktree Capital Group had a return on equity of 15.40% and a net margin of 17.30%. Oaktree Capital Group’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Equities analysts expect that Oaktree Capital Group LLC will post $3.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Monday, May 8th will be given a $0.71 dividend. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.63. This represents a $2.84 annualized dividend and a yield of 6.29%. The ex-dividend date is Thursday, May 4th. Oaktree Capital Group’s payout ratio is currently 83.87%.

OAK has been the subject of a number of recent analyst reports. TheStreet raised shares of Oaktree Capital Group from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Zacks Investment Research lowered shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 8th. Finally, Deutsche Bank AG boosted their target price on shares of Oaktree Capital Group from $44.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.25.

In other Oaktree Capital Group news, Director Larry W. Keele sold 8,334 shares of Oaktree Capital Group stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $45.34, for a total value of $377,863.56. Following the completion of the transaction, the director now directly owns 58,655 shares of the company’s stock, valued at approximately $2,659,417.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Todd E. Molz sold 21,011 shares of Oaktree Capital Group stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $45.34, for a total value of $952,638.74. Following the completion of the transaction, the insider now directly owns 76,096 shares of the company’s stock, valued at $3,450,192.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,197 shares of company stock valued at $2,090,696.

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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