Envestnet Asset Management Inc. Purchases Shares of 116,510 Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Envestnet Asset Management Inc. purchased a new position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 116,510 shares of the credit services provider's stock, valued at approximately $1,780,000. Envestnet Asset Management Inc. owned approximately 0.14% of Oaktree Specialty Lending as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its position in shares of Oaktree Specialty Lending by 51.3% during the fourth quarter. Private Management Group Inc. now owns 2,129,202 shares of the credit services provider's stock worth $32,534,000 after purchasing an additional 721,629 shares in the last quarter. Van ECK Associates Corp raised its position in Oaktree Specialty Lending by 3.5% in the 4th quarter. Van ECK Associates Corp now owns 2,094,609 shares of the credit services provider's stock worth $32,006,000 after purchasing an additional 71,808 shares during the last quarter. Bruni J V & Co. Co. lifted its holdings in Oaktree Specialty Lending by 26.0% during the 4th quarter. Bruni J V & Co. Co. now owns 1,929,491 shares of the credit services provider's stock worth $29,483,000 after buying an additional 398,241 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in Oaktree Specialty Lending in the 4th quarter valued at $8,225,000. Finally, Rivernorth Capital Management LLC acquired a new stake in shares of Oaktree Specialty Lending in the 3rd quarter valued at $6,598,000. Institutional investors own 36.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OCSL shares. Wells Fargo & Company cut their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday. Keefe, Bruyette & Woods cut their target price on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $16.00.

Oaktree Specialty Lending Trading Down 7.8 %

Shares of Oaktree Specialty Lending stock traded down $1.13 during trading on Thursday, hitting $13.27. 2,100,053 shares of the company were exchanged, compared to its average volume of 749,977. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $1.09 billion, a P/E ratio of 19.81 and a beta of 0.84. The firm's fifty day moving average price is $15.02 and its 200 day moving average price is $15.54. Oaktree Specialty Lending Co. has a 1-year low of $12.50 and a 1-year high of $19.80.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its earnings results on Thursday, May 1st. The credit services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.06). The firm had revenue of $70.52 million during the quarter, compared to the consensus estimate of $84.67 million. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. During the same period in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts expect that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 12.06%. Oaktree Specialty Lending's dividend payout ratio is presently 238.81%.

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.