Cornerstone Advisory LLC Boosts Stock Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Cornerstone Advisory LLC grew its stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 167.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,233 shares of the credit services provider's stock after acquiring an additional 107,822 shares during the period. Cornerstone Advisory LLC owned 0.21% of Oaktree Specialty Lending worth $2,718,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OCSL. Canton Hathaway LLC purchased a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth $44,000. Spire Wealth Management purchased a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth $68,000. Geneos Wealth Management Inc. purchased a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth $93,000. SG Americas Securities LLC purchased a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth $106,000. Finally, EMC Capital Management raised its position in shares of Oaktree Specialty Lending by 53.2% in the fourth quarter. EMC Capital Management now owns 8,714 shares of the credit services provider's stock worth $133,000 after buying an additional 3,026 shares in the last quarter. Hedge funds and other institutional investors own 36.79% of the company's stock.

Insider Activity

In other news, Director Craig A. Jacobson acquired 14,910 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $13.41 per share, for a total transaction of $199,943.10. Following the acquisition, the director now directly owns 71,667 shares in the company, valued at approximately $961,054.47. The trade was a 26.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Armen Panossian acquired 8,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $14.13 per share, with a total value of $113,040.00. Following the completion of the acquisition, the insider now owns 20,789 shares in the company, valued at $293,748.57. The trade was a 62.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OCSL. Keefe, Bruyette & Woods reduced their target price on Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. B. Riley began coverage on Oaktree Specialty Lending in a research note on Tuesday, May 13th. They set a "neutral" rating and a $14.00 price objective on the stock. StockNews.com cut Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company reduced their price objective 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, April 28th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.83.

Oaktree Specialty Lending Stock Down 2.1%

NASDAQ OCSL opened at $14.12 on Thursday. 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 stock has a market capitalization of $1.24 billion, a PE ratio of 21.07 and a beta of 0.74. Oaktree Specialty Lending Co. has a 1 year low of $12.50 and a 1 year high of $19.80. The business's 50-day moving average is $14.41 and its 200 day moving average is $15.28.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly earnings data 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). Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The company had revenue of $70.52 million during the quarter, compared to analysts' expectations of $84.67 million. During the same quarter last year, the business earned $0.56 earnings per share. Sell-side analysts forecast that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.60 annualized dividend and a dividend yield of 11.33%. Oaktree Specialty Lending's payout ratio is 1,230.77%.

Oaktree Specialty Lending Company Profile

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.

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