270,993 Shares in Oaktree Specialty Lending Corp. $OCSL Bought by Palliser Capital UK Ltd

Palliser Capital UK Ltd bought a new position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 270,993 shares of the credit services provider’s stock, valued at approximately $3,236,000. Oaktree Specialty Lending makes up 1.7% of Palliser Capital UK Ltd’s investment portfolio, making the stock its 11th biggest holding.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Oaktree Specialty Lending by 118.3% in the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock valued at $35,000 after buying an additional 1,707 shares in the last quarter. Garner Asset Management Corp purchased a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth about $38,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Oaktree Specialty Lending in the 2nd quarter worth about $40,000. Fifth Third Bancorp purchased a new stake in shares of Oaktree Specialty Lending in the 1st quarter worth about $41,000. Finally, Allworth Financial LP acquired a new stake in Oaktree Specialty Lending in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 36.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OCSL shares. B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Oppenheimer set a $13.00 price objective on Oaktree Specialty Lending in a research report on Wednesday, May 6th. Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Tuesday. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Oaktree Specialty Lending presently has an average rating of “Hold” and a consensus target price of $11.83.

Oaktree Specialty Lending Price Performance

Oaktree Specialty Lending stock opened at $13.16 on Tuesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 27.42 and a beta of 0.49. Oaktree Specialty Lending Corp. has a 12-month low of $10.63 and a 12-month high of $14.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.19 and a quick ratio of 0.19. The firm’s 50-day moving average is $12.16 and its two-hundred day moving average is $11.97.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Wednesday, August 5th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $69.15 million for the quarter, compared to analyst estimates of $69.40 million. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. Equities analysts predict that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. Oaktree Specialty Lending’s payout ratio is currently 250.00%.

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.