Oaktree Acquisition Corp. II (NYSE:OACB) Downgraded to “Sell” at Zacks Investment Research

Oaktree Acquisition Corp. II (NYSE:OACBGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Oaktree Acquisition Corp. II is a blank check company. It formed for the purpose of merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Oaktree Acquisition Corp. II is based in Los Angeles, California. “

Separately, Northland Securities began coverage on shares of Oaktree Acquisition Corp. II in a research note on Monday, March 21st. They set an “outperform” rating and a $15.00 target price on the stock.

Oaktree Acquisition Corp. II stock opened at $9.95 on Tuesday. The company’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $9.90. Oaktree Acquisition Corp. II has a 52 week low of $9.74 and a 52 week high of $10.00.

Several large investors have recently bought and sold shares of OACB. Bain Capital Credit LP boosted its position in shares of Oaktree Acquisition Corp. II by 466.7% during the 3rd quarter. Bain Capital Credit LP now owns 1,012,502 shares of the company’s stock valued at $9,923,000 after purchasing an additional 833,841 shares in the last quarter. 683 Capital Management LLC bought a new position in shares of Oaktree Acquisition Corp. II during the 4th quarter valued at about $7,410,000. Bank of Montreal Can bought a new position in shares of Oaktree Acquisition Corp. II during the 4th quarter valued at about $4,950,000. Hsbc Holdings PLC bought a new position in shares of Oaktree Acquisition Corp. II during the 3rd quarter valued at about $3,204,000. Finally, Weiss Asset Management LP boosted its position in shares of Oaktree Acquisition Corp. II by 37.3% during the 3rd quarter. Weiss Asset Management LP now owns 967,857 shares of the company’s stock valued at $9,485,000 after purchasing an additional 262,784 shares in the last quarter. Institutional investors own 72.27% of the company’s stock.

Oaktree Acquisition Corp. II Company Profile (Get Rating)

Oaktree Acquisition Corp. II does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses in the industrial and consumer sectors. The company was incorporated in 2020 and is headquartered in Los Angeles, California.

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