Beach Point Capital Management LP Sells 658,035 Shares of Oaktree Specialty Lending Corp. $OCSL

Beach Point Capital Management LP decreased its holdings in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 59.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 453,524 shares of the credit services provider's stock after selling 658,035 shares during the quarter. Oaktree Specialty Lending accounts for about 0.0% of Beach Point Capital Management LP's holdings, making the stock its 6th biggest holding. Beach Point Capital Management LP owned about 0.51% of Oaktree Specialty Lending worth $5,415,077 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Oaktree Specialty Lending by 34.3% during the 1st quarter. Royal Bank of Canada now owns 468,879 shares of the credit services provider's stock worth $7,201,000 after buying an additional 119,775 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Oaktree Specialty Lending during the second quarter worth $246,000. Gabelli Funds LLC increased its position in shares of Oaktree Specialty Lending by 3.0% during the second quarter. Gabelli Funds LLC now owns 186,379 shares of the credit services provider's stock worth $2,546,000 after acquiring an additional 5,467 shares during the period. NewEdge Advisors LLC raised its stake in shares of Oaktree Specialty Lending by 688.1% in the second quarter. NewEdge Advisors LLC now owns 12,972 shares of the credit services provider's stock valued at $177,000 after acquiring an additional 11,326 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Oaktree Specialty Lending by 298.9% in 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 acquiring an additional 469,328 shares in the last quarter. Institutional investors and hedge funds own 36.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings raised Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a research report on Wednesday, May 6th. B. Riley Financial reiterated a "neutral" rating on shares of Oaktree Specialty Lending in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Tuesday, August 25th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.83.

Oaktree Specialty Lending Trading Up 0.4%

Shares of Oaktree Specialty Lending stock opened at $13.02 on Friday. The company has a fifty day simple moving average of $12.27 and a 200-day simple moving average of $12.00. Oaktree Specialty Lending Corp. has a 12-month low of $10.63 and a 12-month high of $14.31. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 27.12 and a beta of 0.49.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. The firm had revenue of $69.15 million for the quarter, compared to analyst estimates of $69.40 million. On average, equities analysts forecast that Oaktree Specialty Lending Corp. will post 1.51 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

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

Oaktree Specialty Lending Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source