Oaktree Specialty Lending Corp. $OCSL Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) by 28.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,195,651 shares of the credit services provider’s stock after buying an additional 492,070 shares during the quarter. Van ECK Associates Corp’s holdings in Oaktree Specialty Lending were worth $26,216,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Garner Asset Management Corp bought a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth $38,000. International Assets Investment Management LLC boosted its stake in Oaktree Specialty Lending by 118.3% during the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 1,707 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Oaktree Specialty Lending during the 2nd quarter valued at $40,000. Allworth Financial LP acquired a new position in Oaktree Specialty Lending during the 2nd quarter worth $41,000. Finally, Fifth Third Bancorp acquired a new position in Oaktree Specialty Lending during the 1st quarter worth $41,000. Institutional investors and hedge funds own 36.79% of the company’s stock.

Oaktree Specialty Lending Stock Performance

Shares of OCSL opened at $13.02 on Monday. The business’s fifty day moving average price is $12.27 and its 200 day moving average price is $12.00. Oaktree Specialty Lending Corp. has a 12-month low of $10.63 and a 12-month high of $14.31. The stock has a market capitalization of $1.15 billion, a PE ratio of 27.12 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. The firm had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Equities research analysts forecast that Oaktree Specialty Lending Corp. will post 1.51 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 250.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Oppenheimer set a $13.00 price target on shares of Oaktree Specialty Lending in a research report on Wednesday, May 6th. B. Riley Financial reiterated a “neutral” rating on shares of Oaktree Specialty Lending in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Tuesday, August 25th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Oaktree Specialty Lending has an average rating of “Hold” and a consensus price target of $11.83.

Oaktree Specialty Lending Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.