Ares Management LLC grew its position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,546,922 shares of the credit services provider’s stock after buying an additional 451,108 shares during the quarter. Oaktree Specialty Lending accounts for approximately 1.1% of Ares Management LLC’s holdings, making the stock its 7th largest position. Ares Management LLC’s holdings in Oaktree Specialty Lending were worth $30,419,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in OCSL. Confluence Investment Management LLC grew its stake in shares of Oaktree Specialty Lending by 2.0% during the 2nd quarter. Confluence Investment Management LLC now owns 90,680 shares of the credit services provider’s stock valued at $607,000 after acquiring an additional 1,804 shares during the period. Stifel Financial Corp grew its holdings in Oaktree Specialty Lending by 2.7% during the 2nd quarter. Stifel Financial Corp now owns 69,102 shares of the credit services provider’s stock valued at $462,000 after buying an additional 1,841 shares in the last quarter. Shelton Capital Management lifted its holdings in shares of Oaktree Specialty Lending by 5.9% in the second quarter. Shelton Capital Management now owns 39,268 shares of the credit services provider’s stock worth $263,000 after buying an additional 2,200 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Oaktree Specialty Lending by 10.9% during the first quarter. Rockefeller Capital Management L.P. now owns 24,512 shares of the credit services provider’s stock worth $151,000 after acquiring an additional 2,412 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Oaktree Specialty Lending by 6.6% during the second quarter. Great West Life Assurance Co. Can now owns 38,887 shares of the credit services provider’s stock worth $260,000 after acquiring an additional 2,416 shares during the last quarter. Hedge funds and other institutional investors own 47.20% of the company’s stock.
Shares of NASDAQ OCSL traded up $0.04 during trading hours on Thursday, reaching $7.31. The stock had a trading volume of 12,526 shares, compared to its average volume of 791,368. Oaktree Specialty Lending Co. has a 52-week low of $4.52 and a 52-week high of $7.40. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 3.99, a P/E/G ratio of 0.98 and a beta of 1.47. The business’s fifty day moving average price is $7.20 and its two-hundred day moving average price is $6.86. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th were issued a $0.145 dividend. The ex-dividend date was Tuesday, September 14th. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.13. This represents a $0.58 dividend on an annualized basis and a yield of 7.93%. Oaktree Specialty Lending’s payout ratio is currently 113.73%.
A number of brokerages recently commented on OCSL. Zacks Investment Research lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Thursday, October 7th. TheStreet raised shares of Oaktree Specialty Lending from a “c+” rating to a “b” rating in a research note on Wednesday, August 4th. Oppenheimer began coverage on Oaktree Specialty Lending in a report on Wednesday, June 23rd. They issued an “outperform” rating and a $7.50 target price for the company. Finally, JMP Securities increased their target price on shares of Oaktree Specialty Lending from $7.50 to $8.00 and gave the company a “market outperform” rating in a research note on Monday, August 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $7.69.
In other news, major shareholder Leonard M. Tannenbaum sold 4,214,368 shares of the firm’s stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $7.10, for a total value of $29,922,012.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.
Oaktree Specialty Lending Profile
Oaktree Specialty Lending Corp. is a specialty finance company, which engages in the provision of customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. Its portfolio include first lien, second lien, kemper jv, and equity. The company was founded on February 15, 2007 and is headquartered in Los Angeles, CA with an investment size of $10 m to $100 m and an EBITDA of $25 m to $250 m.
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