Cresset Asset Management LLC Trims Stock Holdings in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Cresset Asset Management LLC cut its position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 50.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,574 shares of the credit services provider's stock after selling 46,289 shares during the quarter. Cresset Asset Management LLC owned about 0.06% of Oaktree Specialty Lending worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OCSL. Fiduciary Financial Group LLC purchased a new stake in Oaktree Specialty Lending in the fourth quarter worth about $270,000. Mandatum Life Insurance Co Ltd boosted its position in shares of Oaktree Specialty Lending by 2.3% in the 4th quarter. Mandatum Life Insurance Co Ltd now owns 36,915 shares of the credit services provider's stock worth $564,000 after purchasing an additional 830 shares in the last quarter. Rezny Wealth Management Inc. boosted its position in shares of Oaktree Specialty Lending by 6.4% in the 4th quarter. Rezny Wealth Management Inc. now owns 274,035 shares of the credit services provider's stock worth $4,187,000 after purchasing an additional 16,544 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth approximately $164,000. Finally, SG Americas Securities LLC bought a new position in Oaktree Specialty Lending during the 4th quarter valued at approximately $106,000. 36.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OCSL has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their target price on Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price target 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 price objective on shares of 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. B. Riley started coverage on shares of Oaktree Specialty Lending in a research note on Tuesday, May 13th. They set a "neutral" rating and a $14.00 price objective for the company. Finally, StockNews.com downgraded shares of 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 given a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $15.83.

Insiders Place Their Bets

In other news, insider Armen Panossian purchased 8,000 shares of the 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 acquisition, the insider now directly owns 20,789 shares of the company's stock, valued at $293,748.57. This represents a 62.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig A. Jacobson acquired 14,910 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $13.41 per share, with a total value of $199,943.10. Following the acquisition, the director now directly owns 71,667 shares of the company's stock, valued at $961,054.47. This trade represents a 26.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by insiders.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL traded up $0.11 during trading hours on Monday, hitting $14.45. The company's stock had a trading volume of 554,456 shares, compared to its average volume of 758,776. Oaktree Specialty Lending Co. has a 12 month low of $12.50 and a 12 month high of $19.80. The company's 50 day simple moving average is $14.47 and its two-hundred day simple moving average is $15.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $1.27 billion, a P/E ratio of 21.57 and a beta of 0.74.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced 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 net margin of 14.75% and a return on equity of 12.07%. The company had revenue of $70.52 million for the quarter, compared to analysts' expectations of $84.67 million. During the same period in the previous year, the business earned $0.56 EPS. As a group, sell-side analysts expect that Oaktree Specialty Lending Co. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.07%. The ex-dividend date of this dividend is Monday, June 16th. Oaktree Specialty Lending's dividend payout ratio is currently 1,230.77%.

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.