Garner Asset Management Corp lessened its holdings in shares of Oaktree Specialty Lending Corp (NASDAQ:OCSL) by 62.7% during the third quarter, HoldingsChannel reports. The firm owned 26,162 shares of the credit services provider’s stock after selling 44,039 shares during the quarter. Garner Asset Management Corp’s holdings in Oaktree Specialty Lending were worth $130,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Jane Street Group LLC lifted its holdings in shares of Oaktree Specialty Lending by 91.7% during the 1st quarter. Jane Street Group LLC now owns 25,299 shares of the credit services provider’s stock worth $107,000 after acquiring an additional 12,103 shares during the period. Brown Advisory Inc. bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter worth approximately $109,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth approximately $139,000. California Public Employees Retirement System bought a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth approximately $147,000. Finally, Ramsey Quantitative Systems lifted its holdings in shares of Oaktree Specialty Lending by 54.0% during the 3rd quarter. Ramsey Quantitative Systems now owns 32,066 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 11,250 shares during the period. Hedge funds and other institutional investors own 42.41% of the company’s stock.
OCSL has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “buy” rating and set a $5.50 price target on shares of Oaktree Specialty Lending in a report on Tuesday, July 31st. Keefe, Bruyette & Woods set a $6.00 price target on shares of Oaktree Specialty Lending and gave the stock a “hold” rating in a report on Wednesday, August 8th. BMO Capital Markets upped their price target on shares of Oaktree Specialty Lending from $4.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. JPMorgan Chase & Co. upped their price target on shares of Oaktree Specialty Lending from $5.00 to $5.50 and gave the stock an “overweight” rating in a report on Friday, August 10th. Finally, Zacks Investment Research raised shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Saturday, August 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.42.
Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Wednesday, August 8th. The credit services provider reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $31.85 million during the quarter, compared to the consensus estimate of $32.43 million. Oaktree Specialty Lending had a negative net margin of 82.24% and a positive return on equity of 6.50%. Research analysts forecast that Oaktree Specialty Lending Corp will post 0.41 earnings per share for the current year.
In related news, major shareholder Leonard M. Tannenbaum sold 72,900 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $5.00, for a total value of $364,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Melvin Carlisle acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was bought at an average cost of $5.05 per share, with a total value of $25,250.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 10,100 shares of company stock valued at $50,630 and sold 346,138 shares valued at $1,739,094. 0.10% of the stock is owned by corporate insiders.
Oaktree Specialty Lending Company Profile
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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