Melia Wealth LLC Invests $8.71 Million in Oaktree Specialty Lending Corp. $OCSL

Melia Wealth LLC bought a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 729,243 shares of the credit services provider’s stock, valued at approximately $8,707,000. Oaktree Specialty Lending accounts for 5.0% of Melia Wealth LLC’s holdings, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Garner Asset Management Corp purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter worth about $38,000. International Assets Investment Management LLC increased its position in Oaktree Specialty Lending by 118.3% during the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 1,707 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Oaktree Specialty Lending during the second quarter worth approximately $40,000. Allworth Financial LP acquired a new position in shares of Oaktree Specialty Lending in the 2nd quarter valued at $41,000. Finally, Fifth Third Bancorp acquired a new position in shares of Oaktree Specialty Lending in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Price Performance

Oaktree Specialty Lending stock opened at $12.97 on Friday. The firm has a fifty day moving average of $12.24 and a 200-day moving average of $11.99. Oaktree Specialty Lending Corp. has a 52-week low of $10.63 and a 52-week high of $14.31. 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 firm has a market capitalization of $1.14 billion, a P/E ratio of 27.02 and a beta of 0.49.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. The business had revenue of $69.15 million for the quarter, compared to analyst estimates of $69.40 million. As a group, analysts predict that Oaktree Specialty Lending Corp. will post 1.51 EPS 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. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.03 per share. 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 currently 250.00%.

Wall Street Analysts Forecast Growth

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