Equitable Holdings Inc. Invests $506,000 in Oaktree Specialty Lending Corp. $OCSL

Equitable Holdings Inc. acquired a new stake in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) during the second quarter, HoldingsChannel reports. The fund acquired 42,375 shares of the credit services provider’s stock, valued at approximately $506,000.

Several other institutional investors also recently bought and sold shares of the business. Palliser Capital UK Ltd bought a new stake in Oaktree Specialty Lending during the second quarter valued at about $3,236,000. UBS Group AG grew its stake in Oaktree Specialty Lending by 47.5% in the fourth quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider’s stock valued at $16,991,000 after purchasing an additional 429,303 shares during the last quarter. Plan Group Financial LLC bought a new position in Oaktree Specialty Lending in the second quarter worth about $2,416,000. Bruni J V & Co. Co. bought a new position in Oaktree Specialty Lending in the second quarter worth about $29,549,160. Finally, Private Management Group Inc. lifted its position in shares of Oaktree Specialty Lending by 8.1% during the fourth quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider’s stock valued at $41,524,000 after buying an additional 245,207 shares during the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Oaktree Specialty Lending Stock Performance

Oaktree Specialty Lending stock opened at $13.02 on Monday. The stock has a 50-day moving average of $12.27 and a two-hundred day moving average of $12.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. Oaktree Specialty Lending Corp. has a one year low of $10.63 and a one year high of $14.31. The stock has a market cap of $1.15 billion, a PE ratio of 27.12 and a beta of 0.49.

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

Oaktree Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Oaktree Specialty Lending’s payout ratio is currently 250.00%.

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.