Insider Buying: Oaktree Specialty Lending Co. (NASDAQ:OCSL) Insider Acquires 8,000 Shares of Stock

Oaktree Specialty Lending Co. (NASDAQ:OCSL) insider Armen Panossian acquired 8,000 shares of Oaktree Specialty Lending stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $14.13 per share, for a total transaction of $113,040.00. Following the completion of the purchase, the insider now directly owns 20,789 shares in the company, valued at $293,748.57. The trade was a 62.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Oaktree Specialty Lending Stock Up 1.4%

Oaktree Specialty Lending stock opened at $14.34 on Monday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 21.40 and a beta of 0.74. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $14.49 and its two-hundred day moving average price is $15.31. Oaktree Specialty Lending Co. has a 52 week low of $12.50 and a 52 week high of $19.80.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.06). The business had revenue of $70.52 million during the quarter, compared to analyst estimates of $84.67 million. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. During the same period in the prior year, the firm earned $0.56 EPS. On average, analysts expect that Oaktree Specialty Lending Co. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.60 annualized dividend and a dividend yield of 11.16%. Oaktree Specialty Lending’s dividend payout ratio is currently 1,230.77%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several hedge funds have recently made changes to their positions in OCSL. Mandatum Life Insurance Co Ltd grew its stake in shares of Oaktree Specialty Lending by 2.3% in the 4th quarter. Mandatum Life Insurance Co Ltd now owns 36,915 shares of the credit services provider’s stock worth $564,000 after purchasing an additional 830 shares during the last quarter. Rezny Wealth Management Inc. boosted its holdings in shares of Oaktree Specialty Lending by 6.4% in the fourth quarter. Rezny Wealth Management Inc. now owns 274,035 shares of the credit services provider’s stock worth $4,187,000 after buying an additional 16,544 shares during the period. Kelleher Financial Advisors acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth about $164,000. SG Americas Securities LLC acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth about $106,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth about $93,000. Institutional investors and hedge funds own 36.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OCSL shares. Keefe, Bruyette & Woods reduced their price objective on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. B. Riley started coverage on shares of Oaktree Specialty Lending in a research report on Tuesday, May 13th. They issued a “neutral” rating and a $14.00 price objective on the stock. StockNews.com downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Hold” and a consensus price target of $15.83.

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.