Private Management Group Inc. Sells 6,737 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Private Management Group Inc. lessened its position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 821,960 shares of the credit services provider’s stock after selling 6,737 shares during the period. Private Management Group Inc. owned approximately 1.04% of Oaktree Specialty Lending worth $16,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter valued at approximately $41,000. Newbridge Financial Services Group Inc. raised its position in shares of Oaktree Specialty Lending by 78.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,974 shares of the credit services provider’s stock valued at $80,000 after buying an additional 1,750 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Oaktree Specialty Lending by 460.0% in the third quarter. AdvisorNet Financial Inc now owns 4,200 shares of the credit services provider’s stock valued at $85,000 after buying an additional 3,450 shares in the last quarter. Adalta Capital Management LLC raised its position in shares of Oaktree Specialty Lending by 28.8% in the third quarter. Adalta Capital Management LLC now owns 6,825 shares of the credit services provider’s stock valued at $137,000 after buying an additional 1,525 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Oaktree Specialty Lending in the third quarter valued at approximately $213,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Oaktree Specialty Lending Stock Up 0.2 %

Shares of NASDAQ OCSL traded up $0.04 during trading on Tuesday, hitting $19.64. 744,717 shares of the company traded hands, compared to its average volume of 661,780. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.25 and a current ratio of 0.25. Oaktree Specialty Lending Co. has a fifty-two week low of $17.99 and a fifty-two week high of $21.64. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 13.01 and a beta of 1.06. The business’s fifty day moving average is $19.61 and its 200 day moving average is $19.95.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Thursday, February 1st. The credit services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Oaktree Specialty Lending had a return on equity of 12.22% and a net margin of 28.81%. The business had revenue of $97.99 million during the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the prior year, the company earned $0.61 EPS. Equities research analysts predict that Oaktree Specialty Lending Co. will post 2.31 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.55 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.20%. Oaktree Specialty Lending’s dividend payout ratio is presently 145.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. B. Riley downgraded shares of Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Monday, January 8th. Wells Fargo & Company boosted their price objective on shares of Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Friday, February 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Oaktree Specialty Lending in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.67.

Insider Buying and Selling

In other news, Director Phyllis R. Caldwell acquired 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $20.07 per share, for a total transaction of $40,140.00. Following the purchase, the director now owns 11,166 shares in the company, valued at approximately $224,101.62. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation is a business development company. The fund 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.