Wills Financial Group LLC Takes Position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL)

Wills Financial Group LLC purchased a new stake in Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 231,835 shares of the credit services provider's stock, valued at approximately $3,561,000. Oaktree Specialty Lending accounts for about 1.6% of Wills Financial Group LLC's investment portfolio, making the stock its 25th biggest holding. Wills Financial Group LLC owned approximately 0.26% of Oaktree Specialty Lending as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OCSL. PNC Financial Services Group Inc. acquired a new stake in Oaktree Specialty Lending during the first quarter worth $47,000. US Bancorp DE raised its holdings in Oaktree Specialty Lending by 388.9% during the 1st 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 grew its position in shares of 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 worth $113,000 after buying an additional 4,440 shares during the period. Oxford Asset Management LLP acquired a new position in shares of Oaktree Specialty Lending during the 4th quarter worth about $178,000. Finally, REDW Wealth LLC acquired a new position in shares of Oaktree Specialty Lending in the 1st quarter valued at approximately $200,000. Institutional investors own 36.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OCSL. B. Riley began coverage on Oaktree Specialty Lending in a research note on Tuesday, May 13th. They set a "neutral" rating and a $14.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. 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 note on Monday, April 28th. Finally, Wall Street Zen lowered Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.00.

Insider Activity at Oaktree Specialty Lending

In related news, insider Armen Panossian bought 8,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $14.13 per share, with a total value of $113,040.00. Following the completion of the purchase, the insider owned 20,789 shares in the company, valued at approximately $293,748.57. The trade was a 62.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.28% of the company's stock.

Oaktree Specialty Lending Price Performance

OCSL traded down $0.12 during trading on Thursday, reaching $13.25. 371,636 shares of the company were exchanged, compared to its average volume of 721,872. The company's 50-day moving average is $14.07 and its two-hundred day moving average is $14.68. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 23.65 and a beta of 0.69. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.63. Oaktree Specialty Lending Corp. has a 12-month low of $12.50 and a 12-month high of $17.16.

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). The company had revenue of $75.27 million for the quarter, compared to the consensus estimate of $79.14 million. Oaktree Specialty Lending had a net margin of 13.84% and a return on equity of 10.96%. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Research analysts forecast that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date is Monday, September 15th. Oaktree Specialty Lending's payout ratio is 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.