Triad Investment Management Sells 108,767 Shares of Oaktree Specialty Lending Corp. $OCSL

Key Points

• Triad Investment Management reduced its Oaktree Specialty Lending stake by 55.1% in the second quarter, selling 108,767 shares and retaining 88,563 shares valued at approximately $1.06 million.
• OCSL reported quarterly earnings of $0.37 per share, slightly exceeding analyst expectations, while revenue of $69.15 million came in just below forecasts. Shares opened at $12.66, with a consensus analyst rating of “Hold” and an average price target of $11.83.
• Oaktree Specialty Lending cut its quarterly dividend to $0.03 per share, representing an annualized payout of $0.12 and a 0.9% yield.

Triad Investment Management cut its position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 55.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,563 shares of the credit services provider's stock after selling 108,767 shares during the quarter. Oaktree Specialty Lending comprises 1.2% of Triad Investment Management's investment portfolio, making the stock its 26th biggest position. Triad Investment Management owned about 0.10% of Oaktree Specialty Lending worth $1,057,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OCSL. Palliser Capital UK Ltd purchased a new stake in shares of Oaktree Specialty Lending in the second quarter worth $3,236,000. Plan Group Financial LLC bought a new stake in Oaktree Specialty Lending during the second quarter valued at $2,416,000. Bruni J V & Co. Co. purchased a new position in Oaktree Specialty Lending during the second quarter worth about $29,549,160. UBS Group AG grew its position in Oaktree Specialty Lending by 47.5% during the fourth quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider's stock worth $16,991,000 after buying an additional 429,303 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Oaktree Specialty Lending in the 2nd quarter worth about $8,980,000. 36.79% of the stock is owned by institutional investors.

Oaktree Specialty Lending Trading Down 0.9%

Shares of OCSL stock opened at $12.66 on Thursday. The business has a 50-day moving average price of $12.49 and a two-hundred day moving average price of $12.05. Oaktree Specialty Lending Corp. has a 12-month low of $10.63 and a 12-month high of $14.31. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.12 billion, a P/E ratio of 26.38 and a beta of 0.50.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%. Equities analysts anticipate that Oaktree Specialty Lending Corp. will post 1.51 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. Oaktree Specialty Lending's dividend payout ratio (DPR) is currently 250.00%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OCSL. Wall Street Zen downgraded Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. Finally, B. Riley Financial restated a "neutral" rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $11.83.

About Oaktree Specialty Lending

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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