Confluence Investment Management LLC Buys New Stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Confluence Investment Management LLC purchased a new position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,532 shares of the credit services provider’s stock, valued at approximately $738,000.

Other institutional investors also recently made changes to their positions in the company. Cape Investment Advisory Inc. purchased a new stake in shares of Oaktree Specialty Lending during the 4th quarter worth about $39,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter valued at about $41,000. Bfsg LLC acquired a new position in Oaktree Specialty Lending during the 4th quarter worth approximately $71,000. AdvisorNet Financial Inc boosted its stake in shares of Oaktree Specialty Lending by 21.4% in the fourth quarter. AdvisorNet Financial Inc now owns 5,100 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 900 shares during the period. Finally, Adalta Capital Management LLC increased its stake in Oaktree Specialty Lending by 28.8% during the 3rd quarter. Adalta Capital Management LLC now owns 6,825 shares of the credit services provider’s stock worth $137,000 after buying an additional 1,525 shares during the period. 36.79% of the stock is owned by institutional investors and hedge funds.

Oaktree Specialty Lending Stock Performance

Shares of OCSL stock traded down $0.07 on Tuesday, hitting $18.94. 166,006 shares of the stock traded hands, compared to its average volume of 619,966. The company’s fifty day moving average is $19.40 and its 200 day moving average is $19.91. Oaktree Specialty Lending Co. has a 1-year low of $18.41 and a 1-year high of $21.64. The company has a market capitalization of $1.54 billion, a PE ratio of 14.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.24 and a quick ratio of 0.24.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Oaktree Specialty Lending had a return on equity of 12.16% and a net margin of 25.90%. The business had revenue of $94.03 million during the quarter, compared to the consensus estimate of $99.66 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. On average, equities research analysts predict that Oaktree Specialty Lending Co. will post 2.28 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.20 dividend on an annualized basis and a yield of 11.62%. Oaktree Specialty Lending’s dividend payout ratio is currently 164.18%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OCSL. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Oaktree Specialty Lending in a research note on Tuesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Oaktree Specialty Lending currently has a consensus rating of “Hold” and an average price target of $20.67.

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.