Plan Group Financial LLC Buys 31,054 Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL)

Key Points

• Plan Group Financial LLC boosted its stake in Oaktree Specialty Lending Corp. by 71.2%, acquiring a total of 74,648 shares worth approximately $1,147,000.
• Insider Armen Panossian increased their position in Oaktree Specialty Lending by 62.55%, buying 8,000 shares at an average price of $14.13 per share.
• Wall Street analysts have been revising their price targets for Oaktree Specialty Lending, with a consensus rating of "Hold" and an average price target of $15.00.

Plan Group Financial LLC boosted its stake in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 71.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,648 shares of the credit services provider's stock after buying an additional 31,054 shares during the quarter. Plan Group Financial LLC owned approximately 0.08% of Oaktree Specialty Lending worth $1,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OCSL. Wills Financial Group LLC acquired a new position in shares of Oaktree Specialty Lending in the 1st quarter valued at about $3,561,000. PNC Financial Services Group Inc. acquired a new position in shares of Oaktree Specialty Lending in the 1st quarter valued at about $47,000. US Bancorp DE lifted its stake in shares of Oaktree Specialty Lending by 388.9% in the 1st quarter. US Bancorp DE now owns 3,256 shares of the credit services provider's stock valued at $50,000 after purchasing an additional 2,590 shares during the period. Melia Wealth LLC increased its position in Oaktree Specialty Lending by 9.8% in the 1st quarter. Melia Wealth LLC now owns 879,520 shares of the credit services provider's stock valued at $13,509,000 after buying an additional 78,304 shares in the last quarter. Finally, LPL Financial LLC increased its position in Oaktree Specialty Lending by 49.4% in the 1st quarter. LPL Financial LLC now owns 159,341 shares of the credit services provider's stock valued at $2,447,000 after buying an additional 52,681 shares in the last quarter. 36.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OCSL has been the subject of a number of research analyst reports. 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 initiated coverage on Oaktree Specialty Lending in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $14.00 target price for the company. Wells Fargo & Company decreased their target price on Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their target price 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.00.

Oaktree Specialty Lending Stock Performance

Shares of NASDAQ:OCSL traded down $0.07 during trading on Thursday, hitting $13.29. 704,372 shares of the company were exchanged, compared to its average volume of 621,760. The company has a market cap of $1.17 billion, a PE ratio of 23.73 and a beta of 0.69. The stock has a 50 day moving average of $14.05 and a 200 day moving average of $14.66. Oaktree Specialty Lending Corp. has a 52-week low of $12.50 and a 52-week high of $17.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.21 and a quick ratio of 0.23.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). Oaktree Specialty Lending had a return on equity of 10.94% and a net margin of 13.84%. The business had revenue of $75.27 million during the quarter, compared to analysts' expectations of $79.14 million. During the same quarter last year, the business posted $0.55 EPS. As a group, equities research analysts predict that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current year.

Oaktree Specialty Lending Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date of this dividend is Monday, September 15th. Oaktree Specialty Lending's dividend payout ratio is currently 285.71%.

Insider Buying and Selling

In other news, insider Armen Panossian bought 8,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average price of $14.13 per share, with a total value of $113,040.00. Following the completion of the purchase, the insider directly owned 20,789 shares in the company, valued at $293,748.57. The trade was a 62.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

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.