Muzinich & Co. Inc. trimmed its stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 10.2% in the second quarter, Holdings Channel.com reports. The firm owned 1,017,620 shares of the credit services provider’s stock after selling 116,103 shares during the quarter. Oaktree Specialty Lending comprises approximately 3.7% of Muzinich & Co. Inc.’s investment portfolio, making the stock its 10th biggest position. Muzinich & Co. Inc.’s holdings in Oaktree Specialty Lending were worth $6,798,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Confluence Investment Management LLC increased its position in Oaktree Specialty Lending by 2.0% during the 2nd quarter. Confluence Investment Management LLC now owns 90,680 shares of the credit services provider’s stock worth $607,000 after purchasing an additional 1,804 shares in the last quarter. Stifel Financial Corp increased its position in Oaktree Specialty Lending by 2.7% during the 2nd quarter. Stifel Financial Corp now owns 69,102 shares of the credit services provider’s stock worth $462,000 after purchasing an additional 1,841 shares in the last quarter. Shelton Capital Management increased its position in Oaktree Specialty Lending by 5.9% during the 2nd quarter. Shelton Capital Management now owns 39,268 shares of the credit services provider’s stock worth $263,000 after purchasing an additional 2,200 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Oaktree Specialty Lending by 10.9% in the 1st quarter. Rockefeller Capital Management L.P. now owns 24,512 shares of the credit services provider’s stock valued at $151,000 after acquiring an additional 2,412 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Oaktree Specialty Lending by 6.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 38,887 shares of the credit services provider’s stock valued at $260,000 after acquiring an additional 2,416 shares during the period. Institutional investors and hedge funds own 47.20% of the company’s stock.
Several equities analysts have issued reports on OCSL shares. Oppenheimer started coverage on shares of Oaktree Specialty Lending in a research report on Wednesday, June 23rd. They issued an “outperform” rating and a $7.50 price target for the company. TheStreet upgraded shares of Oaktree Specialty Lending from a “c+” rating to a “b” rating in a research report on Wednesday, August 4th. JMP Securities upped their price target on shares of Oaktree Specialty Lending from $7.50 to $8.00 and gave the company a “market outperform” rating in a research report on Monday, August 9th. Finally, Zacks Investment Research cut shares of Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Thursday, October 7th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $7.69.
Shares of NASDAQ:OCSL traded up $0.04 during trading on Thursday, reaching $7.31. The stock had a trading volume of 12,726 shares, compared to its average volume of 791,368. The firm’s fifty day moving average is $7.20 and its 200 day moving average is $6.86. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.21 and a current ratio of 0.21. Oaktree Specialty Lending Co. has a 52 week low of $4.52 and a 52 week high of $7.40. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 4.02, a P/E/G ratio of 0.98 and a beta of 1.47.
Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Thursday, August 5th. The credit services provider reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.05. Oaktree Specialty Lending had a net margin of 143.41% and a return on equity of 8.87%. The company had revenue of $65.44 million for the quarter, compared to analyst estimates of $50.69 million. On average, research analysts forecast that Oaktree Specialty Lending Co. will post 0.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th were paid a $0.145 dividend. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.13. This represents a $0.58 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date of this dividend was Tuesday, September 14th. Oaktree Specialty Lending’s dividend payout ratio is currently 113.73%.
Oaktree Specialty Lending Company Profile
Oaktree Specialty Lending Corp. is a specialty finance company, which engages in the provision of customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. Its portfolio include first lien, second lien, kemper jv, and equity. The company was founded on February 15, 2007 and is headquartered in Los Angeles, CA with an investment size of $10 m to $100 m and an EBITDA of $25 m to $250 m.
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