Plan Group Financial LLC Takes Position in Oaktree Specialty Lending Corp. $OCSL

Key Points

• Plan Group Financial LLC acquired 202,342 shares of Oaktree Specialty Lending, valued at approximately $2.42 million and representing a 0.23% stake. Institutional investors and hedge funds collectively own 36.79% of OCSL.
• Oaktree Specialty Lending reported quarterly earnings of $0.37 per share, exceeding analyst estimates of $0.36, while revenue of $69.15 million slightly missed expectations.
• The company cut its quarterly dividend to $0.03 per share, implying a 0.9% annualized yield. Analysts maintain a consensus “Hold” rating with an $11.83 price target, below the stock’s reported $12.98 opening price.

Plan Group Financial LLC bought a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 202,342 shares of the credit services provider's stock, valued at approximately $2,416,000. Plan Group Financial LLC owned 0.23% of Oaktree Specialty Lending at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OCSL. Private Management Group Inc. raised its stake in Oaktree Specialty Lending by 8.1% in the 4th quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider's stock valued at $41,524,000 after acquiring an additional 245,207 shares during the period. Bruni J V & Co. Co. boosted its position in Oaktree Specialty Lending by 0.3% during the fourth quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider's stock worth $31,795,000 after purchasing an additional 8,691 shares during the period. UBS Group AG increased its holdings in shares of Oaktree Specialty Lending by 47.5% in the fourth quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider's stock valued at $16,991,000 after purchasing an additional 429,303 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of Oaktree Specialty Lending by 1.0% in the first quarter. Rivernorth Capital Management LLC now owns 1,279,906 shares of the credit services provider's stock valued at $14,463,000 after purchasing an additional 12,208 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Oaktree Specialty Lending by 25.6% in the third quarter. Invesco Ltd. now owns 886,847 shares of the credit services provider's stock valued at $11,573,000 after purchasing an additional 181,023 shares during the period. 36.79% of the stock is owned by institutional investors and hedge funds.

Oaktree Specialty Lending Price Performance

NASDAQ:OCSL opened at $12.98 on Friday. Oaktree Specialty Lending Corp. has a 52 week low of $10.63 and a 52 week high of $14.31. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 27.04 and a beta of 0.49. The firm's 50-day simple moving average is $12.03 and its 200 day simple moving average is $11.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $69.15 million during the quarter, compared to analysts' expectations of $69.40 million. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. As a group, sell-side analysts predict that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Oaktree Specialty Lending's payout ratio is presently 250.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OCSL. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Oppenheimer set a $13.00 price target on shares of Oaktree Specialty Lending in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Finally, B. Riley Financial reaffirmed a "neutral" rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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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