Wealthedge Investment Advisors LLC Increases Holdings in Oaktree Specialty Lending Corp. $OCSL

Key Points

• Wealthedge Investment Advisors LLC has significantly increased its stake in Oaktree Specialty Lending Corp. by 110.2%, owning approximately $1.99 million worth of shares as of the latest reporting period.
• Oaktree Specialty Lending's stock underwent multiple target price adjustments from brokerages, with Wells Fargo and JPMorgan both lowering their target price to $14.00.
• The company has announced a quarterly dividend of $0.40 per share, representing a yield of 11.8%, despite a high dividend payout ratio of 285.71%.

Wealthedge Investment Advisors LLC lifted its stake in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 110.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,692 shares of the credit services provider's stock after buying an additional 68,002 shares during the period. Wealthedge Investment Advisors LLC owned approximately 0.15% of Oaktree Specialty Lending worth $1,992,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. National Bank of Canada FI grew its stake in shares of Oaktree Specialty Lending by 259.0% in the first quarter. National Bank of Canada FI now owns 1,691 shares of the credit services provider's stock worth $26,000 after purchasing an additional 1,220 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Oaktree Specialty Lending in the first quarter worth about $47,000. US Bancorp DE grew its stake in shares of Oaktree Specialty Lending by 388.9% in the first quarter. US Bancorp DE now owns 3,256 shares of the credit services provider's stock worth $50,000 after purchasing an additional 2,590 shares during the last quarter. Canton Hathaway LLC boosted its position in Oaktree Specialty Lending by 152.6% during the 1st quarter. Canton Hathaway LLC now owns 7,350 shares of the credit services provider's stock valued at $113,000 after acquiring an additional 4,440 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new stake in Oaktree Specialty Lending during the 4th quarter valued at approximately $178,000. Hedge funds and other institutional investors own 36.79% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen cut Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. B. Riley assumed coverage on Oaktree Specialty Lending in a research report on Tuesday, May 13th. They set a "neutral" rating and a $14.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Oaktree Specialty Lending currently has an average rating of "Hold" and an average price target of $15.00.

Oaktree Specialty Lending Stock Down 0.3%

NASDAQ OCSL traded down $0.04 during mid-day trading on Wednesday, reaching $13.69. The stock had a trading volume of 227,793 shares, compared to its average volume of 717,841. Oaktree Specialty Lending Corp. has a 1 year low of $12.50 and a 1 year high of $17.16. The stock has a market cap of $1.21 billion, a PE ratio of 24.45 and a beta of 0.69. The company has a fifty day moving average price of $13.92 and a 200 day moving average price of $14.53. 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 (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The credit services provider reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). Oaktree Specialty Lending had a return on equity of 10.94% and a net margin of 13.84%.The firm had revenue of $75.27 million during the quarter, compared to analysts' expectations of $79.14 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, research analysts expect that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date is Monday, September 15th. Oaktree Specialty Lending's payout ratio is presently 285.71%.

About Oaktree Specialty Lending

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.