Private Management Group Inc. Purchases 147,990 Shares of Oaktree Specialty Lending Corp. $OCSL

Private Management Group Inc. increased its position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL) by 4.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,869,484 shares of the credit services provider’s stock after purchasing an additional 147,990 shares during the period. Oaktree Specialty Lending accounts for 1.2% of Private Management Group Inc.’s investment portfolio, making the stock its 12th largest holding. Private Management Group Inc.’s holdings in Oaktree Specialty Lending were worth $46,202,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bruni J V & Co. Co. purchased a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth approximately $29,549,160. Legal & General Group Plc bought a new stake in Oaktree Specialty Lending in the second quarter worth $8,980,000. Melia Wealth LLC purchased a new stake in Oaktree Specialty Lending during the second quarter valued at $8,707,000. Van ECK Associates Corp lifted its position in Oaktree Specialty Lending by 28.9% during the second quarter. Van ECK Associates Corp now owns 2,195,651 shares of the credit services provider’s stock valued at $26,216,000 after purchasing an additional 492,070 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Oaktree Specialty Lending by 298.9% during the second quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider’s stock valued at $8,556,000 after purchasing an additional 469,328 shares during the last quarter. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Wall Street Analysts Forecast Growth

OCSL has been the topic of several recent research reports. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. B. Riley Financial restated a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Wall Street Zen cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Tuesday, August 25th. Finally, Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Hold” and an average price target of $11.83.

Oaktree Specialty Lending Stock Performance

OCSL stock opened at $13.02 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $12.27 and its two-hundred day simple moving average is $12.00. Oaktree Specialty Lending Corp. has a twelve month low of $10.63 and a twelve month high of $14.31. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 27.12 and a beta of 0.49.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%. Analysts predict that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.9%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 250.00%.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.