Plan Group Financial LLC Takes $2.42 Million Position in Oaktree Specialty Lending Corp. $OCSL

Plan Group Financial LLC bought a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) during the 2nd quarter, HoldingsChannel reports. The fund bought 202,342 shares of the credit services provider’s stock, valued at approximately $2,416,000.

Several other large investors also recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in shares of Oaktree Specialty Lending by 118.3% in the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 1,707 shares during the period. Garner Asset Management Corp bought a new position in Oaktree Specialty Lending in the 4th quarter valued at about $38,000. Fifth Third Bancorp bought a new position in Oaktree Specialty Lending in the 1st quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. bought a new position in Oaktree Specialty Lending in the 4th quarter valued at about $42,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Oaktree Specialty Lending by 1,025.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after buying an additional 3,793 shares in the last quarter. 36.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OCSL has been the subject of a number of recent analyst reports. B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Weiss Ratings raised shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Finally, Oppenheimer set a $13.00 target price on Oaktree Specialty Lending in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.83.

Oaktree Specialty Lending Stock Performance

NASDAQ:OCSL opened at $12.98 on Friday. Oaktree Specialty Lending Corp. has a twelve month low of $10.63 and a twelve month high of $14.31. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $12.03 and its 200 day simple moving average is $11.95. The firm has a market capitalization of $1.14 billion, a PE ratio of 27.04 and a beta of 0.49.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Wednesday, August 5th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%. On average, analysts anticipate that Oaktree Specialty Lending Corp. will post 1.51 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. Oaktree Specialty Lending’s payout ratio is 250.00%.

Oaktree Specialty Lending Profile

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.