91,200 Shares in Oaktree Specialty Lending Co. (NASDAQ:OCSL) Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. acquired a new position in Oaktree Specialty Lending Co. (NASDAQ:OCSL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 91,200 shares of the credit services provider’s stock, valued at approximately $644,000.

Other institutional investors also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC boosted its position in Oaktree Specialty Lending by 241.7% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 4,100 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 2,900 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in Oaktree Specialty Lending by 56.1% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 4,174 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 1,500 shares in the last quarter. Cipher Capital LP purchased a new stake in Oaktree Specialty Lending in the 2nd quarter worth approximately $99,000. Deutsche Bank AG purchased a new stake in Oaktree Specialty Lending in the 2nd quarter worth approximately $104,000. Finally, Samalin Investment Counsel LLC purchased a new stake in Oaktree Specialty Lending in the 2nd quarter worth approximately $108,000. Institutional investors and hedge funds own 58.17% of the company’s stock.

In related news, major shareholder Leonard M. Tannenbaum sold 17,330 shares of the stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $7.45, for a total value of $129,108.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leonard M. Tannenbaum sold 48,173 shares of the stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $7.50, for a total value of $361,297.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 804,703 shares of company stock valued at $6,051,111. 0.19% of the stock is owned by corporate insiders.

Several equities research analysts have commented on the company. JMP Securities upped their price objective on Oaktree Specialty Lending from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research report on Wednesday, November 17th. Zacks Investment Research upgraded Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Tuesday. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Oaktree Specialty Lending presently has an average rating of “Buy” and a consensus price target of $7.94.

Shares of NASDAQ:OCSL opened at $7.65 on Friday. Oaktree Specialty Lending Co. has a 1 year low of $5.47 and a 1 year high of $7.81. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 5.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.09 and a quick ratio of 0.09. The business’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.23.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Tuesday, November 16th. The credit services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Oaktree Specialty Lending had a return on equity of 8.51% and a net margin of 113.31%. The firm had revenue of $63.80 million for the quarter, compared to analyst estimates of $52.41 million. During the same quarter last year, the firm posted $0.17 EPS. On average, sell-side analysts expect that Oaktree Specialty Lending Co. will post 0.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were paid a $0.155 dividend. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 8.10%. The ex-dividend date was Tuesday, December 14th. Oaktree Specialty Lending’s dividend payout ratio is currently 40.79%.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to private, small and mid-sized growing businesses. While fostering growth is our primary mission, a singular purpose drives all of our pursuits partnering for success.

Further Reading: Environmental, Social, and Governance (ESG) Investing

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Institutional Ownership by Quarter for Oaktree Specialty Lending (NASDAQ:OCSL)

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