Jones Road Capital Management L.P. Sells 83,290 Shares of Oracle Corporation $ORCL

Key Points

• Jones Road Capital Management L.P. reduced its stake in Oracle Corporation by 53.4%, selling 83,290 shares, and currently holds 72,600 shares, which constitutes about 6.3% of its investment portfolio.
• Oracle's quarterly earnings report revealed an EPS of $1.70, surpassing estimates, with revenue of $15.90 billion, reflecting an 11.3% year-over-year increase.
• The company recently announced a $0.50 quarterly dividend, resulting in an annualized yield of 0.9% and a dividend payout ratio of 46.08%.

Jones Road Capital Management L.P. reduced its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 53.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,600 shares of the enterprise software provider's stock after selling 83,290 shares during the period. Oracle accounts for about 6.3% of Jones Road Capital Management L.P.'s investment portfolio, making the stock its 6th largest position. Jones Road Capital Management L.P.'s holdings in Oracle were worth $10,150,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sunbeam Capital Management LLC acquired a new stake in shares of Oracle during the 4th quarter worth about $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle during the 1st quarter worth about $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle during the 1st quarter worth about $28,000. Iron Horse Wealth Management LLC boosted its stake in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle during the 4th quarter worth about $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Trading Down 5.9%

NYSE ORCL opened at $234.2670 on Wednesday. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. The company's 50 day moving average price is $233.11 and its 200 day moving average price is $181.51. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $658.02 billion, a price-to-earnings ratio of 53.98, a PEG ratio of 3.72 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the firm posted $1.63 earnings per share. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. Oracle's dividend payout ratio (DPR) is currently 46.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Oppenheimer reissued an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. CIBC reissued a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Guggenheim raised their target price on shares of Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. KeyCorp raised their target price on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Finally, Citigroup raised shares of Oracle from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $227.04.

Insider Activity at Oracle

In other news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares in the company, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rona Alison Fairhead acquired 480 shares of the company's stock in a transaction dated Monday, July 7th. The shares were purchased at an average price of $233.87 per share, for a total transaction of $112,257.60. Following the purchase, the director directly owned 22,110 shares of the company's stock, valued at approximately $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is currently owned by corporate insiders.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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