Alpine Global Management LLC Buys 180,000 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Alpine Global Management LLC lifted its stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 180.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,000 shares of the credit services provider’s stock after acquiring an additional 180,000 shares during the quarter. Oaktree Specialty Lending makes up 0.9% of Alpine Global Management LLC’s holdings, making the stock its 19th biggest holding. Alpine Global Management LLC owned about 0.34% of Oaktree Specialty Lending worth $4,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in OCSL. Canton Hathaway LLC acquired a new stake in Oaktree Specialty Lending during the fourth quarter worth approximately $44,000. Spire Wealth Management acquired a new stake in Oaktree Specialty Lending during the fourth quarter worth approximately $68,000. Geneos Wealth Management Inc. acquired a new stake in Oaktree Specialty Lending during the fourth quarter worth approximately $93,000. SG Americas Securities LLC acquired a new stake in Oaktree Specialty Lending during the fourth quarter worth approximately $106,000. Finally, EMC Capital Management grew its stake in Oaktree Specialty Lending by 53.2% during the fourth quarter. EMC Capital Management now owns 8,714 shares of the credit services provider’s stock worth $133,000 after purchasing an additional 3,026 shares during the period. 36.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Oaktree Specialty Lending Trading Down 0.6%

Shares of Oaktree Specialty Lending stock opened at $14.03 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.30. Oaktree Specialty Lending Co. has a 52 week low of $12.50 and a 52 week high of $19.80. The stock has a 50 day moving average price of $14.38 and a two-hundred day moving average price of $15.27. The stock has a market capitalization of $1.24 billion, a PE ratio of 20.94 and a beta of 0.74.

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

Oaktree Specialty Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.60 annualized dividend and a dividend yield of 11.40%. Oaktree Specialty Lending’s payout ratio is 1,230.77%.

Insider Activity at Oaktree Specialty Lending

In related news, insider Armen Panossian bought 8,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $14.13 per share, with a total value of $113,040.00. Following the completion of the transaction, the insider now directly owns 20,789 shares in the company, valued at approximately $293,748.57. This represents a 62.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig A. Jacobson bought 14,910 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $13.41 per share, for a total transaction of $199,943.10. Following the transaction, the director now owns 71,667 shares of the company’s stock, valued at $961,054.47. The trade was a 26.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.28% of the stock is owned by insiders.

Oaktree Specialty Lending Profile

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.