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

Envestnet Asset Management Inc. cut its position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 27.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth $701,000. JPMorgan Chase & Co. raised its stake in Oaktree Specialty Lending by 101.9% in the fourth quarter. JPMorgan Chase & Co. now owns 163,387 shares of the credit services provider's stock valued at $2,497,000 after buying an additional 82,464 shares during the last quarter. Trexquant Investment LP acquired a new stake in Oaktree Specialty Lending in the fourth quarter worth about $296,000. Invesco Ltd. grew its position in Oaktree Specialty Lending by 1,300.1% during the 4th 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 during the last quarter. Finally, Melia Wealth LLC grew its holdings in shares of Oaktree Specialty Lending by 5.2% during the fourth quarter. Melia Wealth LLC now owns 801,216 shares of the credit services provider's stock valued at $12,243,000 after buying an additional 39,414 shares during the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oaktree Specialty Lending

In related news, Director Craig A. Jacobson acquired 14,910 shares of Oaktree Specialty Lending stock in a transaction 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 completion of the transaction, the director owned 71,667 shares of the company's stock, valued at approximately $961,054.47. The trade was a 26.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Armen Panossian bought 8,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $14.13 per share, for a total transaction of $113,040.00. Following the transaction, the insider owned 20,789 shares of the company's stock, valued at approximately $293,748.57. This trade represents a 62.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company's stock.

Oaktree Specialty Lending Stock Performance

Shares of NASDAQ OCSL opened at $13.56 on Friday. The company has a market capitalization of $1.19 billion, a PE ratio of 104.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.23 and a current ratio of 0.23. The company's fifty day moving average price is $14.13 and its 200 day moving average price is $14.72. Oaktree Specialty Lending Corp. has a 1 year low of $12.50 and a 1 year high of $17.16.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.06). The firm had revenue of $70.52 million for the quarter, compared to analysts' expectations of $84.67 million. Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. During the same period in the previous year, the company earned $0.56 earnings per share. On average, research analysts predict that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OCSL. JPMorgan Chase & Co. reduced their target price on 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 downgraded Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a report on Monday, May 5th. B. Riley started coverage on shares of Oaktree Specialty Lending in a report on Tuesday, May 13th. They set a "neutral" rating and a $14.00 target price for the company. Keefe, Bruyette & Woods decreased their target price on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.00.

About Oaktree Specialty Lending

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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