Private Management Group Inc. Has $33.56 Million Position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL)

Key Points

• Private Management Group Inc. has increased its stake in Oaktree Specialty Lending Corp. (NASDAQ:OCSL) by 2.6%, owning approximately 2.66% of the company, worth about $33.56 million.
• Insider transactions include Director Craig A. Jacobson purchasing 14,910 shares at $13.41 each, increasing his total holdings by 26.27%, highlighting confidence in the company.
• Oaktree Specialty Lending recently reported a missed earnings estimate of $0.45 per share and a quarterly revenue of $70.52 million, falling short of expected $84.67 million.

Private Management Group Inc. increased its holdings in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,185,006 shares of the credit services provider's stock after acquiring an additional 55,804 shares during the quarter. Oaktree Specialty Lending makes up 1.2% of Private Management Group Inc.'s portfolio, making the stock its 21st biggest position. Private Management Group Inc. owned 2.66% of Oaktree Specialty Lending worth $33,562,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OCSL. Cetera Investment Advisers raised its stake in Oaktree Specialty Lending by 20.3% during the first quarter. Cetera Investment Advisers now owns 27,176 shares of the credit services provider's stock valued at $417,000 after buying an additional 4,589 shares in the last quarter. Lindbrook Capital LLC raised its stake in Oaktree Specialty Lending by 75.4% during the first quarter. Lindbrook Capital LLC now owns 29,815 shares of the credit services provider's stock valued at $458,000 after buying an additional 12,815 shares in the last quarter. Denali Advisors LLC raised its stake in Oaktree Specialty Lending by 3.2% during the first quarter. Denali Advisors LLC now owns 147,769 shares of the credit services provider's stock valued at $2,270,000 after buying an additional 4,513 shares in the last quarter. Mandatum Life Insurance Co Ltd raised its stake in Oaktree Specialty Lending by 19.9% during the first quarter. Mandatum Life Insurance Co Ltd now owns 44,274 shares of the credit services provider's stock valued at $680,000 after buying an additional 7,359 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC raised its stake 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 valued at $4,904,000 after buying an additional 276,782 shares in the last quarter. Institutional investors and hedge funds own 36.79% of the company's stock.

Oaktree Specialty Lending Stock Down 0.7%

Shares of NASDAQ OCSL traded down $0.10 during mid-day trading on Tuesday, reaching $14.07. The company had a trading volume of 264,527 shares, compared to its average volume of 722,748. Oaktree Specialty Lending Corp. has a twelve month low of $12.50 and a twelve month high of $18.41. 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 stock has a market capitalization of $1.24 billion, a PE ratio of 108.12 and a beta of 0.68. The stock's 50 day moving average is $14.16 and its 200-day moving average is $14.75.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.06). Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. The company had revenue of $70.52 million during the quarter, compared to analyst estimates of $84.67 million. During the same period last year, the company posted $0.56 earnings per share. As a group, equities analysts anticipate that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.37%. The ex-dividend date was Monday, June 16th. Oaktree Specialty Lending's dividend payout ratio (DPR) is presently 1,230.77%.

Wall Street Analysts Forecast Growth

OCSL has been the subject of several recent research reports. B. Riley initiated coverage on Oaktree Specialty Lending in a report on Tuesday, May 13th. They set a "neutral" rating and a $14.00 target price for the company. Wall Street Zen lowered Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods decreased their price target on 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. Wells Fargo & Company decreased their price target on 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. Finally, JPMorgan Chase & Co. cut their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Oaktree Specialty Lending presently has a consensus rating of "Hold" and a consensus target price of $15.83.

Insider Buying and Selling at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, insider Armen Panossian bought 8,000 shares of the stock in a transaction on 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 completion of 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig A. Jacobson bought 14,910 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired 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 directly owned 71,667 shares of the company's stock, valued at approximately $961,054.47. The trade was a 26.27% 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.

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.