Castlekeep Investment Advisors LLC acquired a new position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 289,711 shares of the credit services provider's stock, valued at approximately $3,459,000. Oaktree Specialty Lending accounts for 1.7% of Castlekeep Investment Advisors LLC's investment portfolio, making the stock its 18th biggest holding. Castlekeep Investment Advisors LLC owned 0.33% of Oaktree Specialty Lending at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Garner Asset Management Corp purchased a new position in Oaktree Specialty Lending in the fourth quarter valued at about $38,000. International Assets Investment Management LLC boosted its position in Oaktree Specialty Lending by 118.3% during the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider's stock valued at $35,000 after purchasing an additional 1,707 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Oaktree Specialty Lending during the second quarter worth about $40,000. Allworth Financial LP acquired a new stake in shares of Oaktree Specialty Lending in the second quarter valued at approximately $41,000. Finally, Fifth Third Bancorp acquired a new stake in Oaktree Specialty Lending in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 36.79% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on OCSL. Wall Street Zen cut Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Tuesday. Weiss Ratings raised Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. B. Riley Financial restated a "neutral" rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Finally, Oppenheimer set a $13.00 target price on shares of Oaktree Specialty Lending in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $11.83.
Read Our Latest Research Report on OCSL
Oaktree Specialty Lending Stock Performance
Shares of NASDAQ:OCSL opened at $13.15 on Wednesday. The firm has a market cap of $1.16 billion, a PE ratio of 27.40 and a beta of 0.49. Oaktree Specialty Lending Corp. has a twelve month low of $10.63 and a twelve month high of $14.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. The business has a fifty day moving average of $12.19 and a 200-day moving average of $11.98.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The credit services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%. On average, equities research analysts predict that Oaktree Specialty Lending Corp. will post 1.51 EPS for the current fiscal year.
Oaktree Specialty Lending Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. Oaktree Specialty Lending's dividend payout ratio is presently 250.00%.
Oaktree Specialty Lending Profile
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Free Report)
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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