UBS Group AG Acquires 429,303 Shares of Oaktree Specialty Lending Corp. $OCSL

Key Points

• UBS Group AG increased its stake in Oaktree Specialty Lending by 47.5% in the fourth quarter, buying 429,303 additional shares and bringing its total to 1,333,643 shares worth about $17 million.
• Oaktree Specialty Lending reported better-than-expected quarterly earnings of $0.38 per share, though revenue came in below analyst estimates at $69.74 million.
• The company declared a quarterly dividend of $0.30 per share, equal to a 9.9% annualized yield, while analysts currently rate the stock a consensus Hold with a $11.83 target price.

UBS Group AG raised its holdings in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 47.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,333,643 shares of the credit services provider's stock after acquiring an additional 429,303 shares during the quarter. UBS Group AG owned about 1.51% of Oaktree Specialty Lending worth $16,991,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of Oaktree Specialty Lending during the 3rd quarter valued at $51,000. Tower Research Capital LLC TRC boosted its holdings in Oaktree Specialty Lending by 1,025.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider's stock worth $57,000 after purchasing an additional 3,793 shares in the last quarter. Spire Wealth Management increased its position in Oaktree Specialty Lending by 39.4% during the third quarter. Spire Wealth Management now owns 6,010 shares of the credit services provider's stock worth $78,000 after buying an additional 1,700 shares during the last quarter. Close Asset Management Ltd raised its holdings in 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 valued at $97,000 after buying an additional 1,200 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Oaktree Specialty Lending during the third quarter valued at about $97,000. 36.79% of the stock is owned by institutional investors.

Oaktree Specialty Lending Trading Up 0.1%

Shares of NASDAQ:OCSL opened at $12.11 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.17 and a current ratio of 0.17. The stock's 50-day moving average is $11.81 and its 200-day moving average is $12.56. The company has a market cap of $1.07 billion, a P/E ratio of 21.25 and a beta of 0.52. Oaktree Specialty Lending Corp. has a 52-week low of $10.63 and a 52-week high of $14.77.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $69.74 million during the quarter, compared to analysts' expectations of $74.35 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Equities research analysts predict that Oaktree Specialty Lending Corp. will post 1.5 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 Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued 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 9.9%. Oaktree Specialty Lending's payout ratio is 280.70%.

Insider Buying and Selling at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell acquired 2,500 shares of Oaktree Specialty Lending stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $10.77 per share, with a total value of $26,925.00. Following the completion of the transaction, the director owned 23,500 shares of the company's stock, valued at $253,095. The trade was a 11.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on OCSL. Zacks Research upgraded Oaktree Specialty Lending from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Oppenheimer set a $13.00 price objective on Oaktree Specialty Lending in a research note on Wednesday, May 6th. Wells Fargo & Company reduced their target price on Oaktree Specialty Lending from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, February 5th. JPMorgan Chase & Co. decreased their target price 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. Finally, Wall Street Zen upgraded Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Oaktree Specialty Lending currently has an average rating of "Hold" and a consensus 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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