Oaktree Specialty Lending Corp (NASDAQ:OCSL) major shareholder Leonard M. Tannenbaum sold 116,000 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $5.00, for a total value of $580,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of NASDAQ:OCSL opened at $5.02 on Monday. The stock has a market cap of $701.98 million, a price-to-earnings ratio of 9.84, a PEG ratio of 6.07 and a beta of 0.15. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.47. Oaktree Specialty Lending Corp has a 12 month low of $4.17 and a 12 month high of $5.91.
Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Wednesday, August 8th. The credit services provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $31.85 million during the quarter, compared to analyst estimates of $32.43 million. Oaktree Specialty Lending had a positive return on equity of 6.50% and a negative net margin of 82.24%. research analysts predict that Oaktree Specialty Lending Corp will post 0.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Saturday, September 15th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.38 annualized dividend and a yield of 7.57%. Oaktree Specialty Lending’s dividend payout ratio is presently 74.51%.
OCSL has been the subject of several analyst reports. Keefe, Bruyette & Woods set a $6.00 target price on Oaktree Specialty Lending and gave the company a “hold” rating in a research note on Wednesday, August 8th. JPMorgan Chase & Co. upped their target price on Oaktree Specialty Lending from $5.00 to $5.50 and gave the company an “overweight” rating in a research note on Friday, August 10th. ValuEngine lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. JMP Securities reiterated a “buy” rating and issued a $5.50 target price on shares of Oaktree Specialty Lending in a research note on Tuesday, July 31st. Finally, National Securities reiterated a “neutral” rating and issued a $5.00 target price on shares of Oaktree Specialty Lending in a research note on Wednesday, May 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $5.42.
A number of large investors have recently made changes to their positions in OCSL. Financial Advocates Investment Management acquired a new stake in Oaktree Specialty Lending during the first quarter worth about $100,000. Jane Street Group LLC increased its stake in Oaktree Specialty Lending by 91.7% during the first quarter. Jane Street Group LLC now owns 25,299 shares of the credit services provider’s stock worth $107,000 after acquiring an additional 12,103 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Oaktree Specialty Lending during the first quarter worth about $109,000. Great West Life Assurance Co. Can acquired a new stake in Oaktree Specialty Lending during the first quarter worth about $137,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Oaktree Specialty Lending during the second quarter worth about $139,000. Institutional investors own 43.06% of the company’s stock.
Oaktree Specialty Lending Company Profile
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is focused on providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company provides companies with flexible financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity.
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