Catalyst Capital Advisors LLC acquired a new position in Oaktree Specialty Lending Corp (NASDAQ:OCSL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 201,359 shares of the credit services provider’s stock, valued at approximately $985,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OCSL. River Road Asset Management LLC bought a new stake in Oaktree Specialty Lending in the 4th quarter worth about $31,142,000. Bank of Montreal Can bought a new stake in Oaktree Specialty Lending in the 4th quarter worth about $9,281,000. LSV Asset Management bought a new stake in Oaktree Specialty Lending in the 4th quarter worth about $8,436,000. Clear Harbor Asset Management LLC bought a new stake in Oaktree Specialty Lending in the 4th quarter worth about $4,076,000. Finally, Gabelli Funds LLC bought a new stake in Oaktree Specialty Lending in the 4th quarter worth about $1,577,000. Institutional investors own 35.87% of the company’s stock.
In related news, major shareholder Oaktree Capital Management Lp acquired 276,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were purchased at an average cost of $4.79 per share, with a total value of $1,322,040.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marc Gamsin acquired 35,000 shares of the stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $4.39 per share, for a total transaction of $153,650.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 397,534 shares of company stock worth $1,887,937. Insiders own 0.10% of the company’s stock.
Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Thursday, February 8th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $33.88 million during the quarter, compared to analysts’ expectations of $35.00 million. Oaktree Specialty Lending had a positive return on equity of 6.74% and a negative net margin of 95.68%. equities analysts anticipate that Oaktree Specialty Lending Corp will post 0.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be given a $0.085 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.34 annualized dividend and a yield of 7.69%. Oaktree Specialty Lending’s payout ratio is -45.87%.
Several research firms recently commented on OCSL. JPMorgan Chase & Co. lifted their price objective on Oaktree Specialty Lending from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 1st. Zacks Investment Research raised Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Tuesday, November 7th. Maxim Group reissued a “hold” rating on shares of Oaktree Specialty Lending in a research report on Tuesday, December 26th. BMO Capital Markets reissued a “hold” rating and issued a $5.00 target price on shares of Oaktree Specialty Lending in a research report on Monday, January 8th. Finally, National Securities cut Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $5.00 in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Oaktree Specialty Lending has a consensus rating of “Hold” and an average target price of $5.57.
Oaktree Specialty Lending Profile
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is focused on providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company provides companies with flexible financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity.
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