Kovitz Investment Group Partners LLC boosted its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 48.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 258,853 shares of the credit services provider's stock after purchasing an additional 84,155 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.31% of Oaktree Specialty Lending worth $3,955,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in OCSL. Canton Hathaway LLC purchased a new position in shares of Oaktree Specialty Lending in the 4th quarter valued at $44,000. Spire Wealth Management acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter valued at about $68,000. Geneos Wealth Management Inc. acquired a new position in Oaktree Specialty Lending during the 4th quarter worth approximately $93,000. SG Americas Securities LLC purchased a new position in Oaktree Specialty Lending in the 4th quarter worth approximately $106,000. Finally, EMC Capital Management grew its holdings in Oaktree Specialty Lending by 53.2% during the 4th quarter. EMC Capital Management now owns 8,714 shares of the credit services provider's stock valued at $133,000 after purchasing an additional 3,026 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Wells Fargo & Company lowered 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 note on Monday. JPMorgan Chase & Co. dropped their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Oaktree Specialty Lending presently has a consensus rating of "Hold" and an average target price of $16.00.
Check Out Our Latest Stock Report on OCSL
Oaktree Specialty Lending Stock Performance
Shares of NASDAQ:OCSL traded up $0.32 during trading on Friday, hitting $13.59. 996,959 shares of the company traded hands, compared to its average volume of 751,035. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. The business's fifty day moving average is $14.96 and its 200-day moving average is $15.52. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 20.28 and a beta of 0.84. Oaktree Specialty Lending Co. has a one year low of $12.50 and a one year high of $19.80.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.06). The company had revenue of $70.52 million during the quarter, compared to analyst estimates of $84.67 million. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. During the same period in the prior year, the business earned $0.56 earnings per share. As a group, equities analysts predict that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current fiscal year.
Oaktree Specialty Lending Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.77%. Oaktree Specialty Lending's dividend payout ratio (DPR) is presently 238.81%.
Oaktree Specialty Lending Company Profile
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Free Report)
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.
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