Naviter Wealth LLC Boosts Holdings in Oaktree Specialty Lending Corp. $OCSL

Key Points

• Naviter Wealth LLC increased its stake in Oaktree Specialty Lending Corp. by 12.7%, owning 175,837 shares valued at approximately $2.4 million after acquiring 19,790 shares in the second quarter.
• Oaktree Specialty Lending reported earnings per share (EPS) of $0.37 for the last quarter, missing the consensus estimate of $0.45, with revenue of $75.27 million.
• The company announced a quarterly dividend of $0.40 per share, translating to an annualized yield of 12.4%, with a significant payout ratio of 285.71%.

Naviter Wealth LLC grew its stake in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,837 shares of the credit services provider's stock after acquiring an additional 19,790 shares during the quarter. Naviter Wealth LLC owned about 0.20% of Oaktree Specialty Lending worth $2,402,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Castlekeep Investment Advisors LLC increased its position in Oaktree Specialty Lending by 651.4% during the first quarter. Castlekeep Investment Advisors LLC now owns 319,275 shares of the credit services provider's stock worth $4,904,000 after purchasing an additional 276,782 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Oaktree Specialty Lending by 1,321.9% during the 1st quarter. Trexquant Investment LP now owns 275,060 shares of the credit services provider's stock valued at $4,225,000 after buying an additional 255,716 shares during the period. Wills Financial Group LLC purchased a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at $3,561,000. Royal Bank of Canada increased its holdings in shares of Oaktree Specialty Lending by 34.3% during the 1st quarter. Royal Bank of Canada now owns 468,879 shares of the credit services provider's stock worth $7,201,000 after buying an additional 119,775 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its position in shares of Oaktree Specialty Lending by 246.2% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 162,044 shares of the credit services provider's stock worth $2,489,000 after buying an additional 115,240 shares during the period. 36.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OCSL shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Oaktree Specialty Lending in a research report on Wednesday, October 8th. Zacks Research raised Oaktree Specialty Lending from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 9th. Nine equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $15.00.

Oaktree Specialty Lending Trading Up 2.5%

Shares of OCSL opened at $12.92 on Tuesday. Oaktree Specialty Lending Corp. has a 12 month low of $12.44 and a 12 month high of $16.66. The stock's 50-day moving average is $13.42 and its two-hundred day moving average is $13.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market cap of $1.14 billion, a PE ratio of 23.07 and a beta of 0.66.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its earnings results 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). The company had revenue of $75.27 million for the quarter, compared to analysts' expectations of $79.14 million. Oaktree Specialty Lending had a net margin of 13.84% and a return on equity of 10.94%. During the same quarter in the previous year, the business posted $0.55 earnings per share. Equities analysts forecast that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date of this dividend was Monday, September 15th. Oaktree Specialty Lending's payout ratio is presently 285.71%.

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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