Private Management Group Inc. raised its holdings in Oaktree Specialty Lending Corp. (NASDAQ:OCSL – Free Report) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,259,370 shares of the credit services provider’s stock after purchasing an additional 245,207 shares during the quarter. Oaktree Specialty Lending comprises approximately 1.2% of Private Management Group Inc.’s holdings, making the stock its 11th biggest holding. Private Management Group Inc.’s holdings in Oaktree Specialty Lending were worth $41,524,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of OCSL. Close Asset Management Ltd lifted its stake in shares of Oaktree Specialty Lending by 19.4% in the 3rd quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider’s stock valued at $97,000 after purchasing an additional 1,200 shares during the period. Security National Bank lifted its stake in shares of Oaktree Specialty Lending by 40.6% in the 4th quarter. Security National Bank now owns 4,607 shares of the credit services provider’s stock valued at $59,000 after purchasing an additional 1,330 shares during the period. Muzinich & Co. Inc. lifted its stake in shares of Oaktree Specialty Lending by 0.5% in the 4th quarter. Muzinich & Co. Inc. now owns 332,569 shares of the credit services provider’s stock valued at $4,237,000 after purchasing an additional 1,663 shares during the period. Lido Advisors LLC raised its stake in Oaktree Specialty Lending by 1.5% during the 4th quarter. Lido Advisors LLC now owns 117,232 shares of the credit services provider’s stock worth $1,529,000 after buying an additional 1,720 shares during the period. Finally, Sovran Advisors LLC raised its stake in Oaktree Specialty Lending by 4.9% during the 4th quarter. Sovran Advisors LLC now owns 38,348 shares of the credit services provider’s stock worth $499,000 after buying an additional 1,805 shares during the period. Institutional investors own 36.79% of the company’s stock.
Wall Street Analysts Forecast Growth
OCSL has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Zacks Research raised Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a research note on Wednesday, May 6th. Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.83.
Insider Activity at Oaktree Specialty Lending
In related news, Director Phyllis R. Caldwell acquired 2,500 shares of the stock in a transaction dated Monday, March 16th. The stock was purchased at an average cost of $10.77 per share, with a total value of $26,925.00. Following the completion of the purchase, the director directly owned 23,500 shares in the company, valued at $253,095. This trade represents a 11.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.
Oaktree Specialty Lending Stock Performance
Shares of Oaktree Specialty Lending stock opened at $12.03 on Friday. The company has a market cap of $1.06 billion, a PE ratio of 21.11 and a beta of 0.50. Oaktree Specialty Lending Corp. has a 52 week low of $10.63 and a 52 week high of $14.77. The business has a 50 day moving average price of $12.10 and a 200-day moving average price of $12.29. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.68.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $69.74 million during the quarter, compared to the consensus estimate of $74.35 million. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.During the same period in the prior year, the business posted $0.45 earnings per share. Equities analysts anticipate that Oaktree Specialty Lending Corp. will post 1.5 earnings per share for the current fiscal year.
Oaktree Specialty Lending Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 10.0%. Oaktree Specialty Lending’s dividend payout ratio is 280.70%.
Oaktree Specialty Lending Profile
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.
The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.
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