Deborah Ann Gero Acquires 2,000 Shares of Oaktree Specialty Lending (NASDAQ:OCSL) Stock

by · The Markets Daily

Oaktree Specialty Lending Corp. (NASDAQ:OCSLGet Free Report) Director Deborah Ann Gero bought 2,000 shares of Oaktree Specialty Lending stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of $10.78 per share, with a total value of $21,560.00. Following the completion of the acquisition, the director owned 24,411 shares of the company’s stock, valued at $263,150.58. The trade was a 8.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Oaktree Specialty Lending Trading Down 0.1%

Shares of OCSL opened at $11.25 on Friday. The business’s 50-day moving average price is $12.04 and its 200 day moving average price is $12.89. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $991.01 million, a P/E ratio of 31.25 and a beta of 0.52. Oaktree Specialty Lending Corp. has a 1-year low of $10.63 and a 1-year high of $15.85.

Oaktree Specialty Lending (NASDAQ:OCSLGet Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. The company had revenue of $74.48 million during the quarter, compared to analyst estimates of $75.72 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Analysts expect that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 14.2%. The ex-dividend date is Monday, March 16th. Oaktree Specialty Lending’s dividend payout ratio is 444.44%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OCSL. Wells Fargo & Company lowered their price objective on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Wall Street Zen upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Lucid Cap Mkts upgraded Oaktree Specialty Lending to a “hold” rating in a report on Monday, December 15th. JPMorgan Chase & Co. reduced their price objective on Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, March 13th. Finally, Zacks Research lowered Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $12.88.

Read Our Latest Research Report on OCSL

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Stonegate Investment Group LLC raised its stake in shares of Oaktree Specialty Lending by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 15,171 shares of the credit services provider’s stock worth $198,000 after purchasing an additional 800 shares in the last quarter. Running Point Capital Advisors LLC increased its holdings in Oaktree Specialty Lending by 3.1% in the fourth quarter. Running Point Capital Advisors LLC now owns 28,789 shares of the credit services provider’s stock worth $367,000 after buying an additional 877 shares during the last quarter. MRP Capital Investments LLC raised its position in Oaktree Specialty Lending by 8.3% during the second quarter. MRP Capital Investments LLC now owns 11,578 shares of the credit services provider’s stock valued at $158,000 after acquiring an additional 891 shares in the last quarter. Creative Planning raised its position in Oaktree Specialty Lending by 1.9% during the second quarter. Creative Planning now owns 53,128 shares of the credit services provider’s stock valued at $726,000 after acquiring an additional 996 shares in the last quarter. Finally, Close Asset Management Ltd lifted its stake in Oaktree Specialty Lending by 19.4% in the third quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Company Profile

(Get Free Report)

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.

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