Kornitzer Capital Management Inc. KS Purchases 6,575 Shares of Oracle Corporation (NYSE:ORCL)

Kornitzer Capital Management Inc. KS raised its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 513.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,856 shares of the enterprise software provider's stock after buying an additional 6,575 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Oracle were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle in the first quarter worth $28,000. Iron Horse Wealth Management LLC raised its stake in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after buying an additional 151 shares during the period. Sunbeam Capital Management LLC bought a new stake in Oracle in the 4th quarter valued at about $30,000. Finally, Hurley Capital LLC purchased a new stake in Oracle during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Buying and Selling

In other Oracle news, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the transaction, the director owned 58,090 shares in the company, valued at approximately $8,785,531.60. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naomi O. Seligman sold 2,866 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the sale, the director owned 31,764 shares in the company, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 445,366 shares of company stock worth $84,784,653 over the last quarter. Company insiders own 42.20% of the company's stock.

Oracle Price Performance

Shares of ORCL stock opened at $241.25 on Thursday. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $244.10. The firm has a market cap of $677.64 billion, a P/E ratio of 55.59, a P/E/G ratio of 3.51 and a beta of 1.39. The business's 50 day moving average price is $192.33 and its 200-day moving average price is $167.83.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share 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 business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, July 10th. Oracle's payout ratio is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ORCL shares. CIBC restated a "buy" rating on shares of Oracle in a research note on Monday, June 9th. Citigroup reaffirmed an "outperform" rating on shares of Oracle in a report on Thursday, June 12th. Jefferies Financial Group increased their price objective on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 9th. JMP Securities set a $240.00 price objective on shares of Oracle and gave the company a "market outperform" rating in a research report on Thursday, June 12th. Finally, Cowen reaffirmed a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and an average price target of $211.37.

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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