Texas Capital Bank Wealth Management Services Inc Buys 115,240 Shares of Oaktree Specialty Lending Corp. $OCSL

Key Points

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Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 246.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,044 shares of the credit services provider's stock after purchasing an additional 115,240 shares during the quarter. Texas Capital Bank Wealth Management Services Inc owned 0.18% of Oaktree Specialty Lending worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealthedge Investment Advisors LLC lifted its holdings in shares of Oaktree Specialty Lending by 110.2% during the first quarter. Wealthedge Investment Advisors LLC now owns 129,692 shares of the credit services provider's stock valued at $1,992,000 after purchasing an additional 68,002 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Oaktree Specialty Lending by 30.6% during the first quarter. Virtu Financial LLC now owns 34,800 shares of the credit services provider's stock valued at $535,000 after purchasing an additional 8,154 shares in the last quarter. Rezny Wealth Management Inc. lifted its holdings in shares of Oaktree Specialty Lending by 3.4% during the first quarter. Rezny Wealth Management Inc. now owns 283,333 shares of the credit services provider's stock valued at $4,352,000 after purchasing an additional 9,298 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Oaktree Specialty Lending by 259.0% during the first quarter. National Bank of Canada FI now owns 1,691 shares of the credit services provider's stock valued at $26,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Plan Group Financial LLC lifted its holdings in shares of Oaktree Specialty Lending by 71.2% during the first quarter. Plan Group Financial LLC now owns 74,648 shares of the credit services provider's stock valued at $1,147,000 after purchasing an additional 31,054 shares in the last quarter. 36.79% of the stock is owned by institutional investors.

Oaktree Specialty Lending Stock Performance

Oaktree Specialty Lending stock traded up $0.11 during mid-day trading on Friday, reaching $13.75. 302,867 shares of the stock traded hands, compared to its average volume of 619,898. The stock has a market capitalization of $1.21 billion, a PE ratio of 24.55 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.21 and a quick ratio of 0.21. Oaktree Specialty Lending Corp. has a 12-month low of $12.50 and a 12-month high of $17.16. The business's 50-day moving average is $13.87 and its 200-day moving average is $14.48.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The credit services provider reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). The firm had revenue of $75.27 million for the quarter, compared to analysts' expectations of $79.14 million. Oaktree Specialty Lending had a net margin of 13.84% and a return on equity of 10.94%. During the same quarter last year, the company posted $0.55 EPS. As a group, sell-side 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 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. The ex-dividend date is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a yield of 11.6%. Oaktree Specialty Lending's dividend payout ratio is presently 285.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. B. Riley assumed coverage on Oaktree Specialty Lending in a report on Tuesday, May 13th. They set a "neutral" rating and a $14.00 price target on the stock. Wells Fargo & Company lowered their price target on 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. Finally, Wall Street Zen downgraded Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Oaktree Specialty Lending has a consensus rating of "Hold" and a consensus price target of $15.00.

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.