Plan Group Financial LLC Takes Position in Oaktree Specialty Lending Corp. $OCSL

Plan Group Financial LLC bought a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 202,342 shares of the credit services provider’s stock, valued at approximately $2,416,000. Plan Group Financial LLC owned 0.23% of Oaktree Specialty Lending at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OCSL. Private Management Group Inc. raised its stake in Oaktree Specialty Lending by 8.1% in the 4th quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider’s stock valued at $41,524,000 after acquiring an additional 245,207 shares during the period. Bruni J V & Co. Co. boosted its position in Oaktree Specialty Lending by 0.3% during the fourth quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider’s stock worth $31,795,000 after purchasing an additional 8,691 shares during the period. UBS Group AG increased its holdings in shares of Oaktree Specialty Lending by 47.5% in the fourth quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider’s stock valued at $16,991,000 after purchasing an additional 429,303 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of Oaktree Specialty Lending by 1.0% in the first quarter. Rivernorth Capital Management LLC now owns 1,279,906 shares of the credit services provider’s stock valued at $14,463,000 after purchasing an additional 12,208 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Oaktree Specialty Lending by 25.6% in the third quarter. Invesco Ltd. now owns 886,847 shares of the credit services provider’s stock valued at $11,573,000 after purchasing an additional 181,023 shares during the period. 36.79% of the stock is owned by institutional investors and hedge funds.

Oaktree Specialty Lending Price Performance

NASDAQ:OCSL opened at $12.98 on Friday. Oaktree Specialty Lending Corp. has a 52 week low of $10.63 and a 52 week high of $14.31. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 27.04 and a beta of 0.49. The firm’s 50-day simple moving average is $12.03 and its 200 day simple moving average is $11.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Wednesday, August 5th. 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 analysts’ expectations of $69.40 million. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. As a group, sell-side analysts predict that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Oaktree Specialty Lending’s payout ratio is presently 250.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OCSL. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Oppenheimer set a $13.00 price target on shares of Oaktree Specialty Lending in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.83.

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.