2,474,804 Shares in Oaktree Specialty Lending Corp. $OCSL Acquired by Bruni J V & Co. Co.

Key Points

• Bruni J V & Co. Co. acquired 2.47 million OCSL shares during the second quarter, giving it a 2.81% stake and making Oaktree Specialty Lending its 16th-largest holding.
• Institutional ownership reached 36.79%, with BlackRock and several other funds initiating positions while Fiduciary Financial Group increased its stake by 20.3%.
• Analysts maintain a consensus “Hold” rating with an $11.83 price target. OCSL recently beat quarterly EPS estimates, but cut its dividend to $0.03 per quarter, implying a 0.9% yield.

Bruni J V & Co. Co. acquired a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,474,804 shares of the credit services provider's stock, valued at approximately $29,549,160,000. Oaktree Specialty Lending comprises approximately 2.7% of Bruni J V & Co. Co.'s holdings, making the stock its 16th largest holding. Bruni J V & Co. Co. owned 2.81% of Oaktree Specialty Lending at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avaii Wealth Management LLC acquired a new position in shares of Oaktree Specialty Lending during the 2nd quarter valued at about $615,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Oaktree Specialty Lending during the second quarter worth about $488,000. BlackRock Inc. acquired a new stake in Oaktree Specialty Lending during the second quarter worth about $3,988,000. Plan Group Financial LLC purchased a new position in Oaktree Specialty Lending during the second quarter worth about $2,416,000. Finally, Fiduciary Financial Group LLC raised its stake in Oaktree Specialty Lending by 20.3% during the second quarter. Fiduciary Financial Group LLC now owns 185,270 shares of the credit services provider's stock worth $2,212,000 after purchasing an additional 31,226 shares during the period. 36.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 7th. Oppenheimer set a $13.00 price target on shares of Oaktree Specialty Lending in a research report on Wednesday, May 6th. B. Riley Financial reaffirmed a "neutral" rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a report on Monday. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.83.

Oaktree Specialty Lending Trading Up 0.7%

OCSL opened at $12.94 on Wednesday. Oaktree Specialty Lending Corp. has a 52 week low of $10.63 and a 52 week high of $14.31. The business has a fifty day simple moving average of $12.07 and a 200-day simple moving average of $11.95. The firm has a market cap of $1.14 billion, a P/E ratio of 26.96 and a beta of 0.49. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The credit services provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The business had revenue of $69.15 million during the quarter, compared to analysts' expectations of $69.40 million. On average, equities analysts expect that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Oaktree Specialty Lending's payout ratio is currently 250.00%.

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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