HighTower Advisors LLC Has $2.25 Million Stock Holdings in Oaktree Specialty Lending Corp. $OCSL

Key Points

• HighTower Advisors cut its Oaktree Specialty Lending stake by 38.8% in the second quarter, selling 119,599 shares and retaining 188,588 shares worth approximately $2.25 million. Institutional investors collectively own 36.79% of the company.
• Oaktree Specialty Lending reported quarterly EPS of $0.37, slightly above analysts’ $0.36 estimate, while revenue of $69.15 million fell just short of expectations. The company expects full-year EPS of approximately $1.51.
• The company declared a quarterly dividend of $0.03 per share, equal to a 0.9% annualized yield, while analysts maintain a consensus “Hold” rating with an average price target of $11.83 versus the stock’s reported $12.67 price.

HighTower Advisors LLC trimmed its position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 38.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,588 shares of the credit services provider's stock after selling 119,599 shares during the quarter. HighTower Advisors LLC owned 0.21% of Oaktree Specialty Lending worth $2,252,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of Oaktree Specialty Lending by 118.3% in the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider's stock valued at $35,000 after acquiring an additional 1,707 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Oaktree Specialty Lending during the second quarter worth about $40,000. Fifth Third Bancorp bought a new position in Oaktree Specialty Lending during the first quarter worth about $41,000. Allworth Financial LP acquired a new stake in Oaktree Specialty Lending in the 2nd quarter worth about $41,000. Finally, Tower Research Capital LLC TRC raised its stake in Oaktree Specialty Lending by 1,025.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider's stock worth $57,000 after purchasing an additional 3,793 shares in the last quarter. Institutional investors own 36.79% of the company's stock.

Oaktree Specialty Lending Stock Performance

Oaktree Specialty Lending stock opened at $12.67 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.12 billion, a PE ratio of 26.40 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 business's 50-day moving average price is $12.50 and its two-hundred day moving average price is $12.06.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $69.15 million during the quarter, compared to analysts' expectations 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, analysts expect that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Oaktree Specialty Lending Profile

Oaktree Specialty Lending Corporation NASDAQ: OCSL is a business development company that provides financing to middle-market companies. The company seeks to generate current income and capital appreciation by investing in privately negotiated debt and equity securities, with an emphasis on credit opportunities that may be underserved by traditional lenders.

OCSL primarily invests in first-lien and second-lien loans, subordinated debt, and, to a lesser extent, equity investments. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses in the United States.

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