Oaktree Specialty Lending Co. (NASDAQ:OCSL) Major Shareholder Sells $625,000.00 in Stock

Oaktree Specialty Lending Co. (NASDAQ:OCSL) major shareholder Leonard M. Tannenbaum sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $6.25, for a total value of $625,000.00. Following the completion of the transaction, the insider now owns 23,022,479 shares of the company’s stock, valued at $143,890,493.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ OCSL opened at $6.49 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $914.84 million, a P/E ratio of 23.18 and a beta of 1.45. Oaktree Specialty Lending Co. has a one year low of $3.39 and a one year high of $6.59. The stock has a 50 day moving average price of $6.20 and a 200-day moving average price of $5.56.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Wednesday, February 3rd. The credit services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $38.20 million during the quarter, compared to the consensus estimate of $36.86 million. Oaktree Specialty Lending had a return on equity of 8.29% and a net margin of 27.40%. As a group, equities analysts predict that Oaktree Specialty Lending Co. will post 0.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were given a dividend of $0.12 per share. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date of this dividend was Friday, March 12th. Oaktree Specialty Lending’s dividend payout ratio is currently 94.12%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in Oaktree Specialty Lending during the 4th quarter valued at $28,000. Johnson Midwest Financial LLC purchased a new stake in Oaktree Specialty Lending during the 4th quarter valued at $32,000. Squarepoint Ops LLC purchased a new stake in Oaktree Specialty Lending during the 4th quarter valued at $91,000. Schroder Investment Management Group purchased a new stake in Oaktree Specialty Lending during the 4th quarter valued at $106,000. Finally, Boston Private Wealth LLC purchased a new stake in Oaktree Specialty Lending during the 4th quarter valued at $123,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

Several research firms have weighed in on OCSL. Zacks Investment Research downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Friday, February 5th. Hovde Group began coverage on Oaktree Specialty Lending in a research note on Friday, March 5th. They issued an “outperform” rating and a $7.25 price target for the company. Finally, TheStreet upgraded Oaktree Specialty Lending from a “c-” rating to a “b-” rating in a research note on Wednesday, December 9th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $5.63.

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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