Oaktree Capital Management LP acquired a new position in Oaktree Specialty Lending Corp (NASDAQ:OCSL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 276,000 shares of the credit services provider’s stock, valued at approximately $1,350,000. Oaktree Capital Management LP owned approximately 0.20% of Oaktree Specialty Lending at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank bought a new position in Oaktree Specialty Lending during the 4th quarter valued at approximately $109,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter worth approximately $114,000. Hillsdale Investment Management Inc. purchased a new position in shares of Oaktree Specialty Lending during the 3rd quarter worth approximately $129,000. Brown Advisory Securities LLC purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter worth approximately $169,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter worth approximately $173,000. 42.52% of the stock is owned by institutional investors.
OCSL has been the topic of several recent research reports. National Securities downgraded Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $5.00 in a research note on Friday, December 1st. Keefe, Bruyette & Woods set a $6.00 price target on Oaktree Specialty Lending and gave the stock a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research downgraded Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Maxim Group reiterated a “hold” rating on shares of Oaktree Specialty Lending in a research note on Tuesday, December 26th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $5.00 target price on shares of Oaktree Specialty Lending in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Oaktree Specialty Lending has a consensus rating of “Hold” and an average price target of $5.57.
In other news, COO Mathew Pendo acquired 12,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was purchased at an average price of $4.66 per share, for a total transaction of $55,920.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Oaktree Capital Management Lp acquired 276,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $4.79 per share, with a total value of $1,322,040.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 356,734 shares of company stock valued at $1,689,430. Company insiders own 0.10% of the company’s stock.
Oaktree Specialty Lending Corp (OCSL) traded down $0.12 during trading hours on Wednesday, reaching $4.38. The company’s stock had a trading volume of 356,045 shares, compared to its average volume of 744,896. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $617.41, a PE ratio of -4.02, a PEG ratio of 6.16 and a beta of 0.16. Oaktree Specialty Lending Corp has a twelve month low of $3.90 and a twelve month high of $5.91.
Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Thursday, February 8th. The credit services provider reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The business had revenue of $33.88 million for the quarter, compared to the consensus estimate of $35.00 million. Oaktree Specialty Lending had a negative net margin of 95.68% and a positive return on equity of 6.74%. research analysts forecast that Oaktree Specialty Lending Corp will post 0.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.085 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 7.76%. Oaktree Specialty Lending’s payout ratio is -45.87%.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is focused on providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company provides companies with flexible financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity.
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