EMC Capital Management Trims Stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

EMC Capital Management reduced its position in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 36.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,714 shares of the credit services provider’s stock after selling 4,934 shares during the period. EMC Capital Management’s holdings in Oaktree Specialty Lending were worth $171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OCSL. Raymond James & Associates lifted its holdings in shares of Oaktree Specialty Lending by 12.5% in the 4th quarter. Raymond James & Associates now owns 53,064 shares of the credit services provider’s stock valued at $1,084,000 after purchasing an additional 5,896 shares during the last quarter. AdvisorNet Financial Inc increased its position in Oaktree Specialty Lending by 21.4% in the 4th quarter. AdvisorNet Financial Inc now owns 5,100 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 900 shares during the period. Pallas Capital Advisors LLC increased its position in Oaktree Specialty Lending by 187.1% in the 4th quarter. Pallas Capital Advisors LLC now owns 57,819 shares of the credit services provider’s stock valued at $1,181,000 after acquiring an additional 37,677 shares during the period. International Assets Investment Management LLC increased its position in Oaktree Specialty Lending by 1,942.0% in the 4th quarter. International Assets Investment Management LLC now owns 12,109 shares of the credit services provider’s stock valued at $247,000 after acquiring an additional 11,516 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Oaktree Specialty Lending by 0.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 298,996 shares of the credit services provider’s stock valued at $6,105,000 after acquiring an additional 2,525 shares during the period. 36.79% of the stock is owned by hedge funds and other institutional investors.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ:OCSL traded down $0.79 during trading on Friday, hitting $16.51. 1,832,756 shares of the stock were exchanged, compared to its average volume of 667,969. The company has a fifty day moving average price of $18.78 and a two-hundred day moving average price of $19.45. The company has a market cap of $1.34 billion, a PE ratio of 12.35 and a beta of 1.10. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.59. Oaktree Specialty Lending Co. has a 12-month low of $16.46 and a 12-month high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Thursday, August 1st. The credit services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). Oaktree Specialty Lending had a return on equity of 12.16% and a net margin of 25.90%. The firm had revenue of $94.97 million for the quarter, compared to analysts’ expectations of $99.35 million. On average, analysts forecast that Oaktree Specialty Lending Co. will post 2.28 EPS for the current year.

Oaktree Specialty Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 13.33%. The ex-dividend date of this dividend is Monday, September 16th. Oaktree Specialty Lending’s payout ratio is currently 164.18%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OCSL shares. JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating on the stock in a research report on Monday. JMP Securities dropped their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Tuesday. B. Riley dropped their target price on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research report on Friday. Oppenheimer cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $20.00 to $18.00 in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on Oaktree Specialty Lending from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.79.

About Oaktree Specialty Lending

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.