Oaktree Specialty Lending Corp. $OCSL Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Oaktree Specialty Lending Corp. (NASDAQ:OCSL) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,173,257 shares of the credit services provider’s stock after purchasing an additional 134,557 shares during the quarter. Van ECK Associates Corp’s holdings in Oaktree Specialty Lending were worth $28,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. MTM Investment Management LLC bought a new position in shares of Oaktree Specialty Lending in the 2nd quarter worth about $34,000. Sound Income Strategies LLC bought a new stake in shares of Oaktree Specialty Lending during the 3rd quarter valued at about $42,000. Nomura Asset Management Co. Ltd. acquired a new stake in Oaktree Specialty Lending during the second quarter worth about $46,000. Allworth Financial LP acquired a new stake in Oaktree Specialty Lending during the second quarter worth about $48,000. Finally, State of Alaska Department of Revenue bought a new position in Oaktree Specialty Lending in the third quarter worth about $51,000. 36.79% of the stock is owned by institutional investors and hedge funds.

Oaktree Specialty Lending Price Performance

Shares of OCSL opened at $11.32 on Thursday. Oaktree Specialty Lending Corp. has a one year low of $11.09 and a one year high of $15.86. The stock’s fifty day moving average is $12.23 and its 200-day moving average is $13.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $997.13 million, a price-to-earnings ratio of 31.45 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $74.48 million for the quarter, compared to analysts’ expectations of $75.72 million. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. During the same period in the previous year, the business earned $0.54 earnings per share. Equities analysts anticipate that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current year.

Oaktree Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date of this dividend is Monday, March 16th. Oaktree Specialty Lending’s dividend payout ratio is currently 444.44%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Lucid Cap Mkts raised Oaktree Specialty Lending to a “hold” rating in a report on Monday, December 15th. Weiss Ratings cut Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. Zacks Research lowered shares of Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Wells Fargo & Company cut their price objective on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Oaktree Specialty Lending presently has a consensus rating of “Reduce” and an average target price of $13.75.

Oaktree Specialty Lending 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.