Private Management Group Inc. Reduces Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Private Management Group Inc. trimmed its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 821,960 shares of the credit services provider’s stock after selling 6,737 shares during the period. Private Management Group Inc.’s holdings in Oaktree Specialty Lending were worth $16,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Oaktree Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,277,429 shares of the credit services provider’s stock valued at $25,702,000 after buying an additional 79,137 shares during the period. Advisors Capital Management LLC purchased a new stake in Oaktree Specialty Lending in the 3rd quarter valued at about $4,626,000. LSV Asset Management boosted its position in Oaktree Specialty Lending by 6.2% in the 3rd quarter. LSV Asset Management now owns 1,137,333 shares of the credit services provider’s stock valued at $22,883,000 after buying an additional 66,066 shares during the period. Mirador Capital Partners LP purchased a new stake in Oaktree Specialty Lending in the 4th quarter valued at about $495,000. Finally, Black Swift Group LLC purchased a new stake in Oaktree Specialty Lending in the 3rd quarter valued at about $2,309,000. 36.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OCSL has been the subject of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Oaktree Specialty Lending in a research report on Tuesday, March 26th. Wells Fargo & Company upped their price target on shares of Oaktree Specialty Lending from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Friday, February 2nd. Finally, B. Riley lowered shares of Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.67.

Oaktree Specialty Lending Stock Up 0.2 %

Shares of NASDAQ OCSL traded up $0.04 during trading hours on Tuesday, hitting $19.64. 744,717 shares of the stock were exchanged, compared to its average volume of 661,780. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.55 billion, a PE ratio of 13.01 and a beta of 1.06. The firm has a fifty day moving average price of $19.61 and a 200-day moving average price of $19.95. Oaktree Specialty Lending Co. has a 12 month low of $17.99 and a 12 month high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Thursday, February 1st. The credit services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Oaktree Specialty Lending had a net margin of 28.81% and a return on equity of 12.22%. The company had revenue of $97.99 million for the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the previous year, the company posted $0.61 EPS. On average, sell-side analysts expect that Oaktree Specialty Lending Co. will post 2.31 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.20 dividend on an annualized basis and a yield of 11.20%. Oaktree Specialty Lending’s payout ratio is 145.70%.

Insider Buying and Selling at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell purchased 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $20.07 per share, for a total transaction of $40,140.00. Following the purchase, the director now owns 11,166 shares of the company’s stock, valued at approximately $224,101.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Oaktree Specialty Lending Company 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.