Oaktree Specialty Lending Co. (NASDAQ:OCSL) major shareholder Leonard M. Tannenbaum sold 169,659 shares of the stock in a transaction on Tuesday, November 24th. The shares were sold at an average price of $5.48, for a total value of $929,731.32. Following the transaction, the insider now directly owns 16,850,948 shares in the company, valued at $92,343,195.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of OCSL stock traded down $0.03 during trading hours on Monday, reaching $5.54. 7,913 shares of the company traded hands, compared to its average volume of 737,468. The firm has a 50-day moving average price of $4.97 and a 200 day moving average price of $4.73. The company has a market cap of $785.15 million, a P/E ratio of -46.42 and a beta of 1.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.15 and a quick ratio of 0.15. Oaktree Specialty Lending Co. has a 12-month low of $2.33 and a 12-month high of $5.65.
Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Wednesday, November 18th. The credit services provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $43.60 million for the quarter, compared to the consensus estimate of $35.52 million. Oaktree Specialty Lending had a negative net margin of 13.00% and a positive return on equity of 7.30%. Sell-side analysts predict that Oaktree Specialty Lending Co. will post 0.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.11 dividend. The ex-dividend date is Monday, December 14th. This represents a $0.44 annualized dividend and a yield of 7.94%. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.11. Oaktree Specialty Lending’s dividend payout ratio is currently 87.50%.
OCSL has been the subject of several research analyst reports. BidaskClub lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a report on Friday, August 28th. TheStreet upgraded Oaktree Specialty Lending from a “d+” rating to a “c-” rating in a research note on Wednesday, August 26th. Zacks Investment Research cut shares of Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Oaktree Specialty Lending from $4.75 to $5.50 and gave the stock a “buy” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $5.25.
A number of large investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can grew its holdings in Oaktree Specialty Lending by 17.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 51,882 shares of the credit services provider’s stock valued at $251,000 after purchasing an additional 7,764 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Oaktree Specialty Lending by 2.7% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,146,563 shares of the credit services provider’s stock worth $5,549,000 after acquiring an additional 29,749 shares during the last quarter. Rivernorth Capital Management LLC boosted its holdings in Oaktree Specialty Lending by 97.6% during the 3rd quarter. Rivernorth Capital Management LLC now owns 5,822,583 shares of the credit services provider’s stock valued at $28,181,000 after acquiring an additional 2,875,675 shares during the period. Advisors Asset Management Inc. grew its position in Oaktree Specialty Lending by 25.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 451,837 shares of the credit services provider’s stock valued at $2,187,000 after acquiring an additional 92,396 shares during the last quarter. Finally, Muzinich & Co. Inc. increased its stake in Oaktree Specialty Lending by 16.3% in the third quarter. Muzinich & Co. Inc. now owns 991,107 shares of the credit services provider’s stock worth $4,797,000 after purchasing an additional 138,830 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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