HighTower Advisors LLC Sells 86,735 Shares of Oaktree Specialty Lending Corp. $OCSL

HighTower Advisors LLC lessened its holdings in Oaktree Specialty Lending Corp. (NASDAQ:OCSL) by 32.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,174 shares of the credit services provider’s stock after selling 86,735 shares during the quarter. HighTower Advisors LLC’s holdings in Oaktree Specialty Lending were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Garner Asset Management Corp bought a new position in shares of Oaktree Specialty Lending during the 4th quarter worth $38,000. Tower Research Capital LLC TRC raised its stake in Oaktree Specialty Lending by 1,025.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 3,793 shares during the period. Security National Bank boosted its position in Oaktree Specialty Lending by 40.6% during the fourth quarter. Security National Bank now owns 4,607 shares of the credit services provider’s stock worth $59,000 after purchasing an additional 1,330 shares during the period. Close Asset Management Ltd boosted its position in Oaktree Specialty Lending by 19.4% during the third quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider’s stock worth $97,000 after purchasing an additional 1,200 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Oaktree Specialty Lending during the third quarter worth about $97,000. Institutional investors own 36.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Phyllis R. Caldwell bought 2,500 shares of the business’s stock in a transaction on Monday, March 16th. The stock was acquired at an average price of $10.77 per share, for a total transaction of $26,925.00. Following the purchase, the director directly owned 23,500 shares in the company, valued at $253,095. This trade represents a 11.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ OCSL opened at $11.96 on Monday. Oaktree Specialty Lending Corp. has a 52 week low of $10.63 and a 52 week high of $14.77. The business has a 50-day simple moving average of $11.96 and a two-hundred day simple moving average of $12.38. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.05 billion, a P/E ratio of 20.98 and a beta of 0.50.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.The business had revenue of $69.74 million during the quarter, compared to the consensus estimate of $74.35 million. During the same quarter last year, the company earned $0.45 EPS. Research analysts anticipate that Oaktree Specialty Lending Corp. will post 1.5 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.20 annualized dividend and a yield of 10.0%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 280.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OCSL. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, March 13th. Zacks Research upgraded shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Oppenheimer set a $13.00 target price on shares of Oaktree Specialty Lending in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.83.

About Oaktree Specialty Lending

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.