Plan Group Financial LLC Has $1.15 Million Stake in 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 lifted its stake in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 71.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,648 shares of the credit services provider's stock after purchasing an additional 31,054 shares during the quarter. Plan Group Financial LLC owned 0.08% of Oaktree Specialty Lending worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other news, insider Armen Panossian acquired 8,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of $14.13 per share, with a total value of $113,040.00. Following the acquisition, the insider owned 20,789 shares of the company's stock, valued at $293,748.57. This trade represents a 62.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. B. Riley assumed coverage on Oaktree Specialty Lending in a research note on Tuesday, May 13th. They set a "neutral" rating and a $14.00 price target for the company. Wells Fargo & Company cut 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 on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of "Hold" and an average price target of $15.00.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL traded up $0.11 during trading on Friday, hitting $13.40. The company's stock had a trading volume of 648,111 shares, compared to its average volume of 627,593. The company has a quick ratio of 0.23, a current ratio of 0.21 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $14.02 and a 200 day moving average price of $14.64. The firm has a market cap of $1.18 billion, a P/E ratio of 23.93 and a beta of 0.69. Oaktree Specialty Lending Corp. has a 52 week low of $12.50 and a 52 week high of $17.16.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly 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 business had revenue of $75.27 million during the quarter, compared to the consensus estimate of $79.14 million. Oaktree Specialty Lending had a return on equity of 10.94% and a net margin of 13.84%. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities research analysts forecast that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.9%. The ex-dividend date of this dividend is Monday, September 15th. Oaktree Specialty Lending's payout ratio is currently 285.71%.

Oaktree Specialty Lending 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.