Oppenheimer & Co. Inc. Acquires New Position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL)

Oppenheimer & Co. Inc. bought a new stake in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,806 shares of the credit services provider's stock, valued at approximately $381,000.

Other large investors have also modified their holdings of the company. Claret Asset Management Corp grew its holdings in Oaktree Specialty Lending by 0.9% during the 4th quarter. Claret Asset Management Corp now owns 1,495,190 shares of the credit services provider's stock worth $22,846,000 after acquiring an additional 13,949 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Oaktree Specialty Lending during the fourth quarter valued at approximately $18,109,000. Invesco Ltd. raised its stake in Oaktree Specialty Lending by 1,300.1% in the fourth quarter. Invesco Ltd. now owns 875,913 shares of the credit services provider's stock worth $13,384,000 after buying an additional 813,352 shares in the last quarter. Melia Wealth LLC lifted its holdings in Oaktree Specialty Lending by 5.2% during the fourth quarter. Melia Wealth LLC now owns 801,216 shares of the credit services provider's stock worth $12,243,000 after buying an additional 39,414 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in Oaktree Specialty Lending during the 4th quarter valued at $9,959,000. Hedge funds and other institutional investors own 36.79% of the company's stock.

Insider Activity at Oaktree Specialty Lending

In related news, insider Armen Panossian purchased 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average price of $14.13 per share, with a total value of $113,040.00. Following the purchase, the insider owned 20,789 shares of the company's stock, valued at $293,748.57. The trade was a 62.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 purchase, the director owned 71,667 shares in the company, valued at $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.

Oaktree Specialty Lending Stock Performance

Shares of NASDAQ OCSL traded up $0.17 during mid-day trading on Wednesday, hitting $13.92. The stock had a trading volume of 750,550 shares, compared to its average volume of 764,960. The firm has a market cap of $1.23 billion, a PE ratio of 107.08 and a beta of 0.68. 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 company has a 50 day moving average of $14.08 and a two-hundred day moving average of $14.88. Oaktree Specialty Lending Corp. has a twelve month low of $12.50 and a twelve month high of $18.87.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $70.52 million during the quarter, compared to analysts' expectations of $84.67 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Research analysts predict that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.40 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.60 annualized dividend and a dividend yield of 11.49%. Oaktree Specialty Lending's dividend payout ratio (DPR) is presently 1,230.77%.

Wall Street Analyst Weigh In

Several research firms have recently commented on OCSL. Wall Street Zen lowered Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. B. Riley began coverage on shares of Oaktree Specialty Lending in a research report on Tuesday, May 13th. They set a "neutral" rating and a $14.00 target price for the company. Wells Fargo & Company cut their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their target price on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.83.

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.