Hilton Capital Management LLC grew its holdings in Oaktree Specialty Lending Corp (NASDAQ:OCSL) by 30.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,040,033 shares of the credit services provider’s stock after buying an additional 1,164,424 shares during the quarter. Oaktree Specialty Lending accounts for 3.5% of Hilton Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Hilton Capital Management LLC’s holdings in Oaktree Specialty Lending were worth $26,107,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of OCSL. Legacy Bridge LLC purchased a new stake in shares of Oaktree Specialty Lending in the first quarter valued at approximately $28,000. Quantamental Technologies LLC purchased a new stake in shares of Oaktree Specialty Lending in the first quarter valued at approximately $28,000. Group One Trading L.P. increased its position in shares of Oaktree Specialty Lending by 125.8% in the first quarter. Group One Trading L.P. now owns 12,025 shares of the credit services provider’s stock valued at $62,000 after buying an additional 6,700 shares in the last quarter. Timber Hill LLC acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth approximately $72,000. Finally, Jane Street Group LLC acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth approximately $76,000. Institutional investors and hedge funds own 48.28% of the company’s stock.
OCSL has been the topic of a number of research analyst reports. Zacks Investment Research raised Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research note on Wednesday, March 20th. TheStreet lowered Oaktree Specialty Lending from a “b” rating to a “c” rating in a research note on Friday, March 22nd. ValuEngine lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, National Securities reaffirmed a “buy” rating and issued a $7.00 price target on shares of Oaktree Specialty Lending in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $5.88.
Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Wednesday, May 8th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $38.24 million for the quarter, compared to analyst estimates of $36.90 million. Oaktree Specialty Lending had a return on equity of 7.62% and a net margin of 102.18%. As a group, analysts expect that Oaktree Specialty Lending Corp will post 0.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Thursday, June 13th. Oaktree Specialty Lending’s dividend payout ratio is presently 88.37%.
In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 364,900 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $5.45, for a total transaction of $1,988,705.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Leonard M. Tannenbaum sold 101,101 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $5.30, for a total value of $535,835.30. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 7,000 shares of company stock worth $38,200 and sold 1,061,435 shares worth $5,834,726. Insiders own 0.16% of the company’s stock.
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About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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