Oaktree Specialty Lending Corp (NASDAQ:OCSL) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 247,000 shares, a decline of 19.5% from the June 30th total of 306,800 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 375,500 shares, the short-interest ratio is presently 0.7 days.
In other news, major shareholder Leonard M. Tannenbaum sold 38,964 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $5.45, for a total transaction of $212,353.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 48,700 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $5.64, for a total transaction of $274,668.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 7,000 shares of company stock valued at $37,500 and have sold 783,976 shares valued at $4,316,543. Insiders own 0.16% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilton Capital Management LLC lifted its stake in Oaktree Specialty Lending by 30.0% in the 1st quarter. Hilton Capital Management LLC now owns 5,040,033 shares of the credit services provider’s stock worth $26,107,000 after purchasing an additional 1,164,424 shares in the last quarter. AJO LP purchased a new stake in Oaktree Specialty Lending in the 1st quarter worth $5,641,000. Centaurus Financial Inc. lifted its stake in Oaktree Specialty Lending by 25,016.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,064,929 shares of the credit services provider’s stock worth $5,772,000 after purchasing an additional 1,060,689 shares in the last quarter. Keeley Teton Advisors LLC lifted its stake in Oaktree Specialty Lending by 326.9% in the 2nd quarter. Keeley Teton Advisors LLC now owns 1,120,588 shares of the credit services provider’s stock worth $6,074,000 after purchasing an additional 858,096 shares in the last quarter. Finally, Virtus ETF Advisers LLC purchased a new stake in Oaktree Specialty Lending in the 2nd quarter worth $2,797,000. Institutional investors own 47.62% of the company’s stock.
Shares of OCSL traded up $0.05 during trading hours on Thursday, reaching $5.15. 462,117 shares of the stock traded hands, compared to its average volume of 382,424. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06. Oaktree Specialty Lending has a 52-week low of $4.08 and a 52-week high of $5.75. The company’s 50-day simple moving average is $5.31. The company has a market capitalization of $710.44 million, a P/E ratio of 11.98, a P/E/G ratio of 5.17 and a beta of 0.52.
Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Wednesday, August 7th. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Oaktree Specialty Lending had a net margin of 96.11% and a return on equity of 7.76%. The company had revenue of $36.67 million for the quarter, compared to analysts’ expectations of $39.57 million. Equities research analysts expect that Oaktree Specialty Lending will post 0.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Thursday, September 12th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 88.37%.
About Oaktree Specialty Lending
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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