Key Points
- Director Deborah Ann Gero purchased 2,000 shares on March 16 at $10.78, increasing her stake to 24,411 shares (an 8.92% rise) in a SEC-filed transaction valued at $21,560.
- The company declared a quarterly dividend of $0.40 per share (record/ex-dividend date March 16, payable March 31), which annualizes to $1.60 for a yield of about 14.2% despite a payout ratio of 444.44%.
- Shares traded near $11.29 and analysts have been trimming targets and ratings—MarketBeat shows a consensus of "Reduce" with a $12.88 price target after recent cuts from firms like JPMorgan and Wells Fargo.
Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Get Free Report) Director Deborah Ann Gero acquired 2,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average cost of $10.78 per share, with a total value of $21,560.00. Following the purchase, the director owned 24,411 shares in the company, valued at $263,150.58. The trade was a 8.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Oaktree Specialty Lending Stock Up 0.3%
NASDAQ:OCSL traded up $0.03 during trading hours on Thursday, reaching $11.29. The company's stock had a trading volume of 124,966 shares, compared to its average volume of 820,971. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $994.62 million, a price-to-earnings ratio of 31.43 and a beta of 0.52. Oaktree Specialty Lending Corp. has a one year low of $10.63 and a one year high of $15.85. The business's 50-day moving average is $12.07 and its 200-day moving average is $12.90.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.03. The company had revenue of $74.48 million during the quarter, compared to analysts' expectations of $75.72 million. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.During the same quarter in the previous year, the firm earned $0.54 earnings per share. Equities research analysts predict that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current year.
Oaktree Specialty Lending Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.60 dividend on an annualized basis and a yield of 14.2%. Oaktree Specialty Lending's dividend payout ratio is presently 444.44%.
Hedge Funds Weigh In On Oaktree Specialty Lending
Several large investors have recently bought and sold shares of OCSL. Private Management Group Inc. grew its position in Oaktree Specialty Lending by 25.2% in the 3rd quarter. Private Management Group Inc. now owns 3,014,163 shares of the credit services provider's stock worth $39,335,000 after purchasing an additional 607,493 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Oaktree Specialty Lending by 298.9% during the second quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider's stock valued at $8,556,000 after buying an additional 469,328 shares during the last quarter. UBS Group AG lifted its stake in shares of Oaktree Specialty Lending by 47.5% in the fourth quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider's stock valued at $16,991,000 after buying an additional 429,303 shares during the period. Summit Securities Group LLC bought a new stake in shares of Oaktree Specialty Lending in the fourth quarter valued at about $4,841,000. Finally, Bruni J V & Co. Co. grew its position in Oaktree Specialty Lending by 12.4% during the third quarter. Bruni J V & Co. Co. now owns 2,487,019 shares of the credit services provider's stock worth $32,456,000 after buying an additional 274,667 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a "neutral" rating for the company in a research note on Friday, March 13th. Zacks Research cut shares of Oaktree Specialty Lending from a "hold" rating to a "strong sell" rating in a report on Monday, February 9th. Wall Street Zen raised Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Lucid Cap Mkts upgraded Oaktree Specialty Lending to a "hold" rating in a research note on Monday, December 15th. Finally, Wells Fargo & Company cut their price objective on Oaktree Specialty Lending from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $12.88.
Check Out Our Latest Analysis on Oaktree Specialty Lending
Oaktree Specialty Lending Company Profile
(
Get Free Report)
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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