Private Management Group Inc. Acquires 245,207 Shares of Oaktree Specialty Lending Corp. $OCSL

Key Points

• Private Management Group Inc. increased its stake in Oaktree Specialty Lending by 8.1% in the fourth quarter, buying 245,207 additional shares and bringing its holdings to 3,259,370 shares worth about $41.5 million.
• Several analysts have recently shifted their views to Hold on OCSL, with the consensus rating now at Hold and an average price target of $11.83. JPMorgan also cut its price target to $10.50 from $13.50.
• Oaktree Specialty Lending reported better-than-expected quarterly EPS of $0.38, but revenue came in below estimates. The company also announced a quarterly dividend of $0.30 per share, implying a 10.0% annualized yield.

Private Management Group Inc. lifted its position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,259,370 shares of the credit services provider's stock after buying an additional 245,207 shares during the period. Oaktree Specialty Lending comprises about 1.2% of Private Management Group Inc.'s investment portfolio, making the stock its 11th largest holding. Private Management Group Inc. owned 3.70% of Oaktree Specialty Lending worth $41,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Garner Asset Management Corp acquired a new position in shares of Oaktree Specialty Lending during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Oaktree Specialty Lending during the fourth quarter worth about $42,000. Tower Research Capital LLC TRC boosted its position in shares of Oaktree Specialty Lending by 1,025.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider's stock worth $57,000 after buying an additional 3,793 shares during the period. Security National Bank boosted its position in shares of Oaktree Specialty Lending by 40.6% during the fourth quarter. Security National Bank now owns 4,607 shares of the credit services provider's stock worth $59,000 after buying an additional 1,330 shares during the period. Finally, Close Asset Management Ltd boosted its position in shares of Oaktree Specialty Lending by 19.4% during the third quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider's stock worth $97,000 after buying an additional 1,200 shares during the period. 36.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings raised Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 15th. Zacks Research raised Oaktree Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a research report on Wednesday, May 6th. Wall Street Zen raised Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. reduced their price target on Oaktree Specialty Lending from $13.50 to $10.50 and set a "neutral" rating for the company in a research report on Friday, March 13th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.83.

Oaktree Specialty Lending Stock Performance

OCSL opened at $12.03 on Friday. Oaktree Specialty Lending Corp. has a 12-month low of $10.63 and a 12-month high of $14.77. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 21.11 and a beta of 0.50. The business has a 50 day moving average of $12.10 and a 200-day moving average of $12.29. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.68.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.The company had revenue of $69.74 million during the quarter, compared to analysts' expectations of $74.35 million. During the same period last year, the firm posted $0.45 earnings per share. On average, equities research analysts expect that Oaktree Specialty Lending Corp. will post 1.5 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.0%. Oaktree Specialty Lending's dividend payout ratio (DPR) is 280.70%.

Insider Buying and Selling at Oaktree Specialty Lending

In other news, Director Phyllis R. Caldwell bought 2,500 shares of the stock in a transaction dated Monday, March 16th. The shares were bought at an average price of $10.77 per share, for a total transaction of $26,925.00. Following the completion of the purchase, the director owned 23,500 shares in the company, valued at approximately $253,095. This trade represents a 11.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Oaktree Specialty Lending 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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