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Wednesday, May 22, 10:09 PM More P-E insiders cash in as Oaktree Capital (OAK) prices an upsized secondary (to 7M units from 6M) at $53.50 per share. The greenshoe option is for 15%, 1.05M shares. The company is using the proceeds to take out selling insiders. Two weeks ago, Apollo Global (APO) strategic investors and managing partners offered up 21.1M shares, and its CEO Leon Black has let it be known - now is the time to harvest. OAK -0.3% to $54.25 AH. 1 Comment [Financials]
Wednesday, May 22, 9:51 AM Leon Black's strategy of "selling everything not nailed down" while at the same time raising new investment funds seems to be working as Apollo Global (APO) is the best-performing (on a Y/Y basis) of the alternative-asset stocks. "Apollo has aggressively entered harvesting mode and you're seeing shareholders reap the benefits," says CS's Howard Chen, who has a Buy rating. Also in the top 5 were FIG, BX, and KKR, while CG and BAM scraped the bottom. In between are relative newcomers OAK and OZM. Comment! [Financials]
Tuesday, May 7, 9:22 AM More on Oaktree Capital (OAK) Q1 earnings: Clicking. Adjusted net income of $335.8M up 117% Y/Y. Distributable earnings of $1.79/share, up 167%. Quarterly distribution of $1.41/share announced, up from $0.55 a year ago. "As we mark our first anniversary of being public, Oaktree's performance and prospects have never been better." Indeed. CC at 11 ET. Shares +3.2% premarket. (PR) Comment! [Earnings, Financials, On the Move]
Tuesday, May 7, 8:39 AM Oaktree Capital (OAK): Q1 EPS of $1.95 beats by $0.41. Revenue of $593.4M beats by $74.46M. (PR) Comment! [Earnings, Breaking News, Financials]
Tuesday, May 7, 12:05 AM Notable earnings before Tuesday’s open: ACM, AFAM, AKRX, ALLT, ARCC, ARIA, BCRX, CHTR, CMLP, CNK, CQB, CRZO, CVLT, DFT, DISCA, DTV, DWRE, EMR, ENDP, FE, FOSL, HCN, HFC, HPT, HSIC, KWK, LPX, NRG, NRGY, NVAX, OAK, OMX, PQ, PRGO, RIGL, SHOO, TA, TAP, TDG, TGH, TICC, TRGT, TW, WRES, XEC 2 Comments [Earnings]
Monday, May 6, 5:30 PM Notable earnings before Tuesday's open: ACM, AFAM, AKRX, ALLT, ARCC, ARIA, BCRX, CHTR, CMLP, CNK, CQB, CRZO, CVLT, DFT, DISCA, DTV, DWRE, EMR, ENDP, FE, FOSL, HCN, HFC, HPT, HSIC, KWK, LPX, NRG, NRGY, NVAX, OAK, OMX, PQ, PRGO, RIGL, SHOO, TA, TAP, TDG, TGH, TICC, TRGT, TW, WRES, XEC Comment! [Earnings]
Monday, April 22, 5:00 PM Lloyds (LYG) looks to sell more of what not long ago was $6B of shipping loans, shopping a $609M portfolio, reports the WSJ. Hedge funds and P-E firms have been stepping in as European banks step back from the shipping sector. Lloyds unloaded its last chunk of shipping loans - $750M worth - to Oaktree Capital (OAK) late last year. Comment! [Financials]
Tuesday, April 16, 9:02 AM The private-equity space may see some action today as Sandler O'Neill ratchets up price estimates on Oaktree (OAK), Blackstone (BX), and KKR to $63, $25, and $24, respectively. Oaktree's distribution could reach $4.38 this year, says Sandler, implying a 9% yield. BX +1.3%, KKR +2.5% premarket. Comment! [Financials, Quick Ideas, On the Move]
Friday, April 12, 9:06 AM Oaktree Capital (OAK) is initiated a Hold at Wells Fargo, analyst Chris Harris calling the company "best in class," but nevertheless fairly valued after a big run in the shares and his cautious stance on credit assets going forward. Limited details for now, but JPMorgan calls Oaktree one of the top free cash flow plays. Comment! [Financials]
Saturday, March 9, 9:00 AM Institutions are "still leery of stocks ... after 13 years of having their hearts broken," says Howard Marks (OAK). "You can see that in their low stock allocations compared with the period of 2000 and before." He expects stocks will need a couple more good years before "the love affair will really be rekindled." What's Oaktree excited about now? Commercial real estate in secondary markets - raw land, finishing projects, distressed properties. 17 Comments
Saturday, February 16, 9:15 AM In the midst of a torrid run for private equity - BX, KKR, FIG, we'll throw in OAK as well - Blackstone President Tony James unloaded 31% of his stake in the firm last week for about $64M. On this month's earnings call, Blackstone CEO Schwarzman was unable to contain his enthusiasm for the company's prospects. 1 Comment [Financials]
Friday, February 15, 3:26 PM Did a lawyer tap Howard Marks on the arm during Oaktree's (OAK) earnings call? Describing as "spectacular" the new investments made in the firm's Principal Funds. Marks stops himself a minute later to say "we are making good investments ... it's hyperbole on my part to say spectacular and I retract it." Spectacular is the performance of OAK since the IPO, +19% with another 4% in distributions. Comment! [Financials]
Thursday, February 14, 9:04 AM More on Oaktree (OAK) Q4 earnings: Economic net income - includes incentive income (carried interest) - grew to $1.47/share from $1.05 a year ago. Company this month launched a new $3B distressed-debt fund. A distribution of $1.05/Class A share is declared, bringing total 2012 distribution to $2.94. Conference call with Howard Marks at 2 PM ET. (PR) Comment! [Earnings, Financials]
Thursday, February 14, 8:51 AM Oaktree Capital (OAK): Q4 EPS of $1.36 beats by $0.48. (PR) Comment! [Earnings, Breaking News, Financials]
Thursday, February 14, 12:05 AM Notable earnings before Thursday’s open: ABB, ABX, ALXN, ANR, APA, BGCP, BWA, CAB, CRIS, CVE, DISCA, DTV, DVA, DWRE, ECA, GELG, GM, GNC, GNRC, INCY, JAH, LNT, LUFK, MFA, NGLS, NRF, O, OAK, PDS, PEP, PPL, REGN, SHPG, STRA, TAP, UTHR, VMC, WM, ZIP Comment! [Earnings]
Wednesday, February 13, 5:30 PM Notable earnings before Thursday’s open: ABB, ABX, ALXN, ANR, APA, BGCP, BWA, CAB, CRIS, CVE, DISCA, DTV, DVA, DWRE, ECA, GELG, GM, GNC, GNRC, INCY, JAH, LNT, LUFK, MFA, NGLS, NRF, O, OAK, PDS, PEP, PPL, REGN, SHPG, STRA, TAP, UTHR, VMC, WM, ZIP Comment! [Earnings]

OAK Oaktree Capital Group

OAK

Oaktree Capital Group