Wealthedge Investment Advisors LLC Has $1.99 Million Stock 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 grew its holdings in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 110.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,692 shares of the credit services provider's stock after purchasing an additional 68,002 shares during the period. Wealthedge Investment Advisors LLC owned approximately 0.15% of Oaktree Specialty Lending worth $1,992,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OCSL. Private Management Group Inc. increased its stake in Oaktree Specialty Lending by 2.6% during the 1st quarter. Private Management Group Inc. now owns 2,185,006 shares of the credit services provider's stock valued at $33,562,000 after buying an additional 55,804 shares during the period. Claret Asset Management Corp increased its stake in shares of Oaktree Specialty Lending by 0.9% during the fourth quarter. Claret Asset Management Corp now owns 1,495,190 shares of the credit services provider's stock valued at $22,846,000 after acquiring an additional 13,949 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Oaktree Specialty Lending during the fourth quarter valued at approximately $18,109,000. Melia Wealth LLC lifted its position in Oaktree Specialty Lending by 9.8% in the first quarter. Melia Wealth LLC now owns 879,520 shares of the credit services provider's stock worth $13,509,000 after purchasing an additional 78,304 shares during the period. Finally, Invesco Ltd. lifted its position in Oaktree Specialty Lending by 1,300.1% in the fourth quarter. Invesco Ltd. now owns 875,913 shares of the credit services provider's stock worth $13,384,000 after purchasing an additional 813,352 shares during the period. Institutional investors and hedge funds own 36.79% of the company's stock.

Oaktree Specialty Lending Stock Up 0.5%

NASDAQ:OCSL traded up $0.07 during trading hours on Tuesday, hitting $13.73. 780,580 shares of the stock traded hands, compared to its average volume of 721,116. The firm has a 50 day moving average price of $13.93 and a 200 day moving average price of $14.54. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.63. Oaktree Specialty Lending Corp. has a fifty-two week low of $12.50 and a fifty-two week high of $17.16. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 24.52 and a beta of 0.69.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Oaktree Specialty Lending had a net margin of 13.84% and a return on equity of 10.94%. The firm had revenue of $75.27 million for the quarter, compared to analyst estimates of $79.14 million. During the same period last year, the firm earned $0.55 earnings per share. Equities research analysts anticipate that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Dividend Announcement

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

Analysts Set New Price Targets

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