BlackRock Inc. Purchases New Position in Oaktree Specialty Lending Corp. $OCSL

Key Points

• BlackRock acquired 333,996 shares of Oaktree Specialty Lending in the second quarter, valued at approximately $3.99 million and representing a 0.38% stake. Institutional investors collectively own 36.79% of the company.
• Analyst sentiment remains cautious: six analysts rate OCSL as a Hold, with a consensus price target of $11.83; one ratings provider downgraded the stock to Sell while others maintained neutral or hold views.
• OCSL reported quarterly EPS of $0.37, narrowly beating estimates, but recently declared a reduced quarterly dividend of $0.03, equal to a 0.9% annualized yield. The stock opened at $13.06, down 0.5%.

BlackRock Inc. acquired a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 333,996 shares of the credit services provider's stock, valued at approximately $3,988,000. BlackRock Inc. owned 0.38% of Oaktree Specialty Lending as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Oaktree Specialty Lending by 118.3% in the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider's stock worth $35,000 after purchasing an additional 1,707 shares during the period. Fifth Third Bancorp purchased a new position in Oaktree Specialty Lending during the first quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. bought a new position in Oaktree Specialty Lending in the fourth quarter worth approximately $42,000. Tower Research Capital LLC TRC raised its stake in Oaktree Specialty Lending by 1,025.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider's stock worth $57,000 after buying an additional 3,793 shares in the last quarter. Finally, Security National Bank lifted its holdings in Oaktree Specialty Lending by 40.6% during the fourth quarter. Security National Bank now owns 4,607 shares of the credit services provider's stock worth $59,000 after buying an additional 1,330 shares during the period. 36.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OCSL has been the subject of a number of analyst reports. Weiss Ratings upgraded Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Wall Street Zen lowered Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Tuesday, August 25th. Finally, B. Riley Financial reiterated a "neutral" rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.83.

Oaktree Specialty Lending Stock Down 0.5%

OCSL stock opened at $13.06 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of 27.21 and a beta of 0.50. Oaktree Specialty Lending Corp. has a 12 month low of $10.63 and a 12 month high of $14.31. The firm's fifty day simple moving average is $12.44 and its 200-day simple moving average is $12.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. As a group, equities research analysts forecast that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.9%. Oaktree Specialty Lending's dividend payout ratio (DPR) is currently 250.00%.

About Oaktree Specialty Lending

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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