Oaktree Specialty Lending Co. (NASDAQ:OCSL) Insider Armen Panossian Buys 8,000 Shares

Oaktree Specialty Lending Co. (NASDAQ:OCSL - Get Free Report) insider Armen Panossian acquired 8,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $14.13 per share, for a total transaction of $113,040.00. Following the purchase, the insider now directly owns 20,789 shares of the company's stock, valued at approximately $293,748.57. This trade represents a 62.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Oaktree Specialty Lending Stock Down 2.1%

NASDAQ:OCSL traded down $0.30 during trading hours on Wednesday, hitting $14.12. 374,080 shares of the company's stock traded hands, compared to its average volume of 756,732. The stock's fifty day moving average price is $14.41 and its two-hundred day moving average price is $15.28. The firm has a market cap of $1.24 billion, a P/E ratio of 21.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.30. Oaktree Specialty Lending Co. has a twelve month low of $12.50 and a twelve month high of $19.80.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.06). Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The company had revenue of $70.52 million during the quarter, compared to analysts' expectations of $84.67 million. During the same period last year, the company earned $0.56 earnings per share. On average, research analysts expect that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.33%. The ex-dividend date is Monday, June 16th. Oaktree Specialty Lending's dividend payout ratio is currently 1,230.77%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. B. Riley initiated coverage on shares of Oaktree Specialty Lending in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $14.00 price target on the stock. StockNews.com lowered shares of Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods decreased their price target on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.83.

Hedge Funds Weigh In On Oaktree Specialty Lending

Hedge funds have recently modified their holdings of the stock. National Bank of Canada FI increased its position in Oaktree Specialty Lending by 259.0% in the 1st 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. SVB Wealth LLC bought a new position in Oaktree Specialty Lending during the first quarter valued at approximately $26,000. Canton Hathaway LLC acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at approximately $44,000. PNC Financial Services Group Inc. acquired a new stake in Oaktree Specialty Lending in the first quarter valued at approximately $47,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Oaktree Specialty Lending during the 1st quarter worth $49,000. 36.79% of the stock is owned by institutional investors and hedge funds.

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.