Stonegate Investment Group LLC boosted its position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL – Free Report) by 22.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,013 shares of the credit services provider’s stock after purchasing an additional 2,542 shares during the quarter. Stonegate Investment Group LLC’s holdings in Oaktree Specialty Lending were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new position in Oaktree Specialty Lending during the 4th quarter worth $44,000. Oxford Asset Management LLP purchased a new position in Oaktree Specialty Lending during the 4th quarter worth $178,000. ProShare Advisors LLC increased its holdings in Oaktree Specialty Lending by 16.6% during the 4th quarter. ProShare Advisors LLC now owns 14,910 shares of the credit services provider’s stock worth $228,000 after purchasing an additional 2,124 shares during the period. Wealthfront Advisers LLC purchased a new position in Oaktree Specialty Lending during the 4th quarter worth $232,000. Finally, Fox Run Management L.L.C. increased its holdings in Oaktree Specialty Lending by 54.4% during the 4th quarter. Fox Run Management L.L.C. now owns 15,525 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 5,471 shares during the period. 36.79% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Craig A. Jacobson purchased 14,910 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $13.41 per share, with a total value of $199,943.10. Following the transaction, the director now owns 71,667 shares in the company, valued at $961,054.47. The trade was a 26.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Armen Panossian purchased 8,000 shares of the stock in a transaction on Thursday, May 15th. The shares were purchased at an average cost of $14.13 per share, with a total value of $113,040.00. Following the transaction, the insider now owns 20,789 shares in the company, valued at $293,748.57. This trade represents a 62.55% increase in their position. The disclosure for this purchase can be found here. 0.28% of the stock is owned by company insiders.
Oaktree Specialty Lending Trading Down 0.6%
Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last announced its earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.06). Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. The business had revenue of $70.52 million for the quarter, compared to analysts’ expectations of $84.67 million. During the same quarter last year, the firm earned $0.56 earnings per share. As a group, equities research analysts predict that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.
Oaktree Specialty Lending Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 16th. This represents a $1.60 annualized dividend and a yield of 11.67%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 1,230.77%.
Wall Street Analyst Weigh In
OCSL has been the topic of several research reports. Wells Fargo & Company reduced their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Wall Street Zen downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods cut their price target on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. B. Riley started coverage on Oaktree Specialty Lending in a report on Tuesday, May 13th. They issued a “neutral” rating and a $14.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.83.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.
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