Envestnet Asset Management Inc. Cuts Stake in Oaktree Specialty Lending Corp. (NASDAQ:OCSL)

Key Points

• Envestnet Asset Management Inc. has reduced its holdings in Oaktree Specialty Lending Corp (NASDAQ:OCSL) by 27.5%, now owning 84,470 shares valued at approximately $1.30 million.
• Oaktree Specialty Lending's stock has recently traded down 2.0%, closing at $13.56 with a market cap of $1.19 billion and a P/E ratio of 104.31.
• Recent earnings results showed Oaktree Specialty Lending reported $0.45 EPS, missing analyst estimates, and had revenue of $70.52 million compared to expectations of $84.67 million.

Envestnet Asset Management Inc. lowered its stake in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,470 shares of the credit services provider's stock after selling 32,040 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Oaktree Specialty Lending worth $1,297,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Claret Asset Management Corp increased its stake in shares of Oaktree Specialty Lending by 0.9% in the fourth quarter. Claret Asset Management Corp now owns 1,495,190 shares of the credit services provider's stock worth $22,846,000 after purchasing an additional 13,949 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Oaktree Specialty Lending in the fourth quarter worth about $18,109,000. Invesco Ltd. increased its stake in shares of Oaktree Specialty Lending by 1,300.1% in the fourth quarter. Invesco Ltd. now owns 875,913 shares of the credit services provider's stock worth $13,384,000 after purchasing an additional 813,352 shares in the last quarter. Melia Wealth LLC boosted its position in shares of Oaktree Specialty Lending by 5.2% in the fourth quarter. Melia Wealth LLC now owns 801,216 shares of the credit services provider's stock valued at $12,243,000 after acquiring an additional 39,414 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new position in Oaktree Specialty Lending during the fourth quarter valued at approximately $9,959,000. Institutional investors own 36.79% of the company's stock.

Insider Buying and Selling at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, insider Armen Panossian bought 8,000 shares of Oaktree Specialty Lending stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $14.13 per share, with a total value of $113,040.00. Following the transaction, the insider directly owned 20,789 shares of the company's stock, valued at $293,748.57. This represents a 62.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OCSL has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wall Street Zen cut shares of Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods cut their price target on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, B. Riley initiated coverage on shares of Oaktree Specialty Lending in a report on Tuesday, May 13th. They issued a "neutral" rating and a $14.00 price objective for the company. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Oaktree Specialty Lending presently has an average rating of "Hold" and an average price target of $15.00.

Oaktree Specialty Lending Trading Down 1.6%

Shares of OCSL traded down $0.21 during mid-day trading on Tuesday, reaching $13.30. The company's stock had a trading volume of 877,481 shares, compared to its average volume of 721,158. The stock has a market cap of $1.17 billion, a PE ratio of 102.50 and a beta of 0.69. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.63. Oaktree Specialty Lending Corp. has a 52 week low of $12.50 and a 52 week high of $17.16. The company's fifty day moving average price is $14.12 and its two-hundred day moving average price is $14.69.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The credit services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, analysts predict that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.

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.