Oaktree Specialty Lending Corp (NASDAQ:OCSL) major shareholder Leonard M. Tannenbaum sold 70,253 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $5.42, for a total transaction of $380,771.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Oaktree Specialty Lending stock opened at $5.40 on Thursday. The stock has a market cap of $751.32 million, a PE ratio of 12.56, a P/E/G ratio of 5.50 and a beta of 0.53. The stock’s fifty day moving average price is $5.48. Oaktree Specialty Lending Corp has a 12-month low of $4.08 and a 12-month high of $5.75. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18.
Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings data on Wednesday, May 8th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $38.24 million during the quarter, compared to analysts’ expectations of $36.90 million. Oaktree Specialty Lending had a net margin of 102.18% and a return on equity of 7.62%. On average, sell-side analysts expect that Oaktree Specialty Lending Corp will post 0.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.38 annualized dividend and a dividend yield of 7.04%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 88.37%.
Institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can lifted its position in shares of Oaktree Specialty Lending by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 35,355 shares of the credit services provider’s stock worth $145,000 after purchasing an additional 4,159 shares during the last quarter. Bruni J V & Co. Co. raised its stake in Oaktree Specialty Lending by 1.1% during the 1st quarter. Bruni J V & Co. Co. now owns 4,000,165 shares of the credit services provider’s stock worth $20,721,000 after acquiring an additional 41,989 shares in the last quarter. Bayview Asset Management LLC purchased a new stake in Oaktree Specialty Lending in the fourth quarter valued at $10,802,000. Timber Hill LLC lifted its position in Oaktree Specialty Lending by 67.6% in the first quarter. Timber Hill LLC now owns 28,500 shares of the credit services provider’s stock valued at $148,000 after acquiring an additional 11,500 shares during the last quarter. Finally, Triad Investment Management boosted its stake in Oaktree Specialty Lending by 75.6% in the first quarter. Triad Investment Management now owns 479,311 shares of the credit services provider’s stock valued at $2,483,000 after acquiring an additional 206,426 shares in the last quarter. 48.28% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. TheStreet cut shares of Oaktree Specialty Lending from a “b” rating to a “c” rating in a research report on Friday, March 22nd. National Securities reaffirmed a “buy” rating and set a $7.00 price objective on shares of Oaktree Specialty Lending in a research report on Monday, May 13th. Finally, ValuEngine cut shares of Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Oaktree Specialty Lending presently has an average rating of “Buy” and a consensus target price of $5.88.
Oaktree Specialty Lending Company Profile
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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