Ares Management LLC lifted its holdings in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 11.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,546,922 shares of the credit services provider’s stock after buying an additional 451,108 shares during the quarter. Oaktree Specialty Lending comprises 1.1% of Ares Management LLC’s portfolio, making the stock its 7th biggest holding. Ares Management LLC owned about 2.52% of Oaktree Specialty Lending worth $30,419,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Tradition Wealth Management LLC bought a new stake in Oaktree Specialty Lending during the 2nd quarter worth about $40,000. Cresset Asset Management LLC bought a new stake in Oaktree Specialty Lending during the 1st quarter worth about $79,000. Stephens Inc. AR bought a new stake in Oaktree Specialty Lending during the 1st quarter worth about $82,000. Childress Capital Advisors LLC bought a new stake in Oaktree Specialty Lending during the 1st quarter worth about $83,000. Finally, Brookstone Capital Management bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter valued at about $85,000. 47.20% of the stock is owned by institutional investors and hedge funds.
OCSL traded up $0.04 during trading on Thursday, hitting $7.31. The company had a trading volume of 12,526 shares, compared to its average volume of 791,368. The company has a market capitalization of $1.32 billion, a PE ratio of 3.99, a PEG ratio of 0.98 and a beta of 1.47. Oaktree Specialty Lending Co. has a one year low of $4.52 and a one year high of $7.40. The firm’s 50-day moving average price is $7.20 and its 200 day moving average price is $6.86. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.49.
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 dividend of $0.145 per share. The ex-dividend date was Tuesday, September 14th. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 7.93%. Oaktree Specialty Lending’s payout ratio is currently 113.73%.
A number of brokerages have recently commented on OCSL. Oppenheimer began coverage on Oaktree Specialty Lending in a research note 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 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 report on Monday, August 9th. Finally, Zacks Investment Research lowered shares of Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a report on Thursday, October 7th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $7.69.
In other news, major shareholder Leonard M. Tannenbaum sold 4,214,368 shares of the business’s stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $7.10, for a total transaction of $29,922,012.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.
Oaktree Specialty Lending 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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