HighTower Advisors LLC Has $2.31 Million Stake in Oaktree Specialty Lending Corp. $OCSL

Key Points

• HighTower Advisors LLC cut its stake in Oaktree Specialty Lending by 32.4% in the fourth quarter, leaving it with 181,174 shares valued at about $2.31 million.
• Analysts are broadly cautious on OCSL, with the stock carrying a consensus Hold rating and an average price target of $11.83; several firms recently trimmed targets or maintained neutral views.
• Oaktree Specialty Lending reported Q1 earnings of $0.38 per share, beating estimates, and it declared a quarterly dividend of $0.30 per share for a 10.0% annualized yield.

HighTower Advisors LLC trimmed its position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,174 shares of the credit services provider's stock after selling 86,735 shares during the quarter. HighTower Advisors LLC owned 0.21% of Oaktree Specialty Lending worth $2,308,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Close Asset Management Ltd raised its position in shares of Oaktree Specialty Lending by 19.4% during the third quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider's stock worth $97,000 after purchasing an additional 1,200 shares during the period. Security National Bank raised its position in shares of Oaktree Specialty Lending by 40.6% during the fourth quarter. Security National Bank now owns 4,607 shares of the credit services provider's stock worth $59,000 after purchasing an additional 1,330 shares during the period. Muzinich & Co. Inc. raised its position in shares of Oaktree Specialty Lending by 0.5% during the fourth quarter. Muzinich & Co. Inc. now owns 332,569 shares of the credit services provider's stock worth $4,237,000 after purchasing an additional 1,663 shares during the period. Sovran Advisors LLC raised its position in shares of Oaktree Specialty Lending by 4.9% during the fourth quarter. Sovran Advisors LLC now owns 38,348 shares of the credit services provider's stock worth $499,000 after purchasing an additional 1,805 shares during the period. Finally, Bfsg LLC raised its position in Oaktree Specialty Lending by 10.2% in the 4th quarter. Bfsg LLC now owns 19,540 shares of the credit services provider's stock valued at $249,000 after buying an additional 1,814 shares during the last quarter. 36.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on OCSL. Weiss Ratings raised Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. lowered their price target on Oaktree Specialty Lending from $13.50 to $10.50 and set a "neutral" rating for the company in a research report on Friday, March 13th. Wells Fargo & Company lowered their price target on Oaktree Specialty Lending from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, February 5th. Zacks Research raised Oaktree Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $11.83.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL opened at $11.96 on Monday. The firm has a market capitalization of $1.05 billion, a P/E ratio of 20.98 and a beta of 0.50. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $11.96 and a 200 day simple moving average of $12.38. Oaktree Specialty Lending Corp. has a 12 month low of $10.63 and a 12 month high of $14.77.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The firm had revenue of $69.74 million during the quarter, compared to the consensus estimate of $74.35 million. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.During the same quarter in the prior year, the company earned $0.45 EPS. On average, analysts predict that Oaktree Specialty Lending Corp. will post 1.5 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date is Monday, June 15th. Oaktree Specialty Lending's dividend payout ratio is 280.70%.

Insider Transactions at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell acquired 2,500 shares of Oaktree Specialty Lending stock in a transaction on Monday, March 16th. The stock was purchased at an average price of $10.77 per share, for a total transaction of $26,925.00. Following the purchase, the director directly owned 23,500 shares of the company's stock, valued at $253,095. This trade represents a 11.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Oaktree Specialty Lending Company Profile

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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