Oaktree Specialty Lending Corp. $OCSL Shares Acquired by Van ECK Associates Corp

Key Points

• Van ECK Associates increased its Oaktree Specialty Lending stake by 28.9% in the second quarter, adding 492,070 shares to own 2.20 million shares worth approximately $26.2 million, or 2.49% of the company.
• Oaktree Specialty Lending reported quarterly EPS of $0.37, slightly exceeding estimates, while revenue of $69.15 million fell just below expectations. Analysts project $1.51 in full-year EPS.
• The company cut its quarterly dividend to $0.03 per share, implying a 0.9% yield, while analysts maintain a consensus “Hold” rating and an $11.83 price target.

Van ECK Associates Corp boosted its stake in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 28.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,195,651 shares of the credit services provider's stock after purchasing an additional 492,070 shares during the quarter. Van ECK Associates Corp owned about 2.49% of Oaktree Specialty Lending worth $26,216,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Garner Asset Management Corp acquired a new position in shares of Oaktree Specialty Lending in the 4th quarter valued at $38,000. International Assets Investment Management LLC increased its holdings in shares of Oaktree Specialty Lending by 118.3% during the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider's stock worth $35,000 after buying an additional 1,707 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth $40,000. Allworth Financial LP acquired a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth $41,000. Finally, Fifth Third Bancorp purchased a new position in shares of Oaktree Specialty Lending in the 1st quarter worth $41,000. Institutional investors and hedge funds own 36.79% of the company's stock.

Oaktree Specialty Lending Price Performance

Shares of Oaktree Specialty Lending stock opened at $13.02 on Monday. The company has a fifty day moving average price of $12.27 and a 200 day moving average price of $12.00. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.68. Oaktree Specialty Lending Corp. has a twelve month low of $10.63 and a twelve month high of $14.31. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 27.12 and a beta of 0.49.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The firm had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Equities research analysts forecast that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. Oaktree Specialty Lending's dividend payout ratio (DPR) is currently 250.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen cut Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a report on Tuesday, August 25th. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a research note on Wednesday, May 6th. B. Riley Financial restated a "neutral" rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Finally, Weiss Ratings raised Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $11.83.

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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