Melia Wealth LLC Buys Shares of 729,243 Oaktree Specialty Lending Corp. $OCSL

Melia Wealth LLC bought a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 729,243 shares of the credit services provider’s stock, valued at approximately $8,707,000. Oaktree Specialty Lending makes up about 5.0% of Melia Wealth LLC’s investment portfolio, making the stock its 9th largest position. Melia Wealth LLC owned approximately 0.83% of Oaktree Specialty Lending at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Private Management Group Inc. boosted its holdings in Oaktree Specialty Lending by 8.1% during the fourth quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider’s stock worth $41,524,000 after buying an additional 245,207 shares in the last quarter. Bruni J V & Co. Co. increased its holdings in Oaktree Specialty Lending by 0.3% in the fourth quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider’s stock valued at $31,795,000 after buying an additional 8,691 shares in the last quarter. UBS Group AG lifted its position in shares of Oaktree Specialty Lending by 47.5% during the 4th quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider’s stock valued at $16,991,000 after acquiring an additional 429,303 shares during the period. Rivernorth Capital Management LLC boosted its stake in shares of Oaktree Specialty Lending by 1.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,279,906 shares of the credit services provider’s stock worth $14,463,000 after acquiring an additional 12,208 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Oaktree Specialty Lending by 25.6% during the 3rd quarter. Invesco Ltd. now owns 886,847 shares of the credit services provider’s stock worth $11,573,000 after acquiring an additional 181,023 shares in the last quarter. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Analyst Ratings Changes

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

Oaktree Specialty Lending Price Performance

OCSL stock opened at $12.97 on Friday. The stock’s 50 day moving average price is $12.24 and its 200 day moving average price is $11.99. The firm has a market cap of $1.14 billion, a P/E ratio of 27.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. Oaktree Specialty Lending Corp. has a 1 year low of $10.63 and a 1 year high of $14.31.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The company had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. On average, sell-side analysts expect that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

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