Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) announced a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Shareholders of record on Thursday, September 15th will be given a dividend of 0.17 per share by the credit services provider on Friday, September 30th. This represents a $0.68 annualized dividend and a yield of 9.62%. The ex-dividend date is Wednesday, September 14th. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.17.
Oaktree Specialty Lending has raised its dividend by an average of 14.1% annually over the last three years and has raised its dividend every year for the last 3 years. Oaktree Specialty Lending has a payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Oaktree Specialty Lending to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 93.0%.
Oaktree Specialty Lending Price Performance
OCSL stock opened at $7.07 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50 day simple moving average of $6.74 and a 200-day simple moving average of $7.13. The firm has a market capitalization of $1.30 billion, a PE ratio of 24.38 and a beta of 1.25. Oaktree Specialty Lending has a 1 year low of $6.20 and a 1 year high of $7.81.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on OCSL. Hovde Group reduced their price objective on Oaktree Specialty Lending to $7.00 in a research note on Friday, May 20th. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Friday.
In related news, Director Phyllis R. Caldwell acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average cost of $7.04 per share, for a total transaction of $35,200.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $54,208. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Mathew Pendo acquired 18,381 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $7.06 per share, with a total value of $129,769.86. Following the purchase, the president now directly owns 103,591 shares of the company’s stock, valued at $731,352.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Phyllis R. Caldwell bought 5,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the acquisition, the director now directly owns 7,700 shares in the company, valued at approximately $54,208. The disclosure for this purchase can be found here. In the last three months, insiders purchased 30,881 shares of company stock worth $215,195. Company insiders own 0.32% of the company’s stock.
Hedge Funds Weigh In On Oaktree Specialty Lending
Institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new stake in shares of Oaktree Specialty Lending in the 1st quarter valued at about $98,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at about $115,000. SVB Wealth LLC bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at about $118,000. US Bancorp DE grew its position in Oaktree Specialty Lending by 45.6% in the 1st quarter. US Bancorp DE now owns 17,571 shares of the credit services provider’s stock worth $129,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Oaktree Specialty Lending in the 1st quarter worth about $133,000. Institutional investors and hedge funds own 65.27% of the company’s stock.
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, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity and management buyouts in small and mid-sized companies.
- Get a free copy of the StockNews.com research report on Oaktree Specialty Lending (OCSL)
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