Sovran Advisors LLC Acquires Shares of 186,163 Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Sovran Advisors LLC purchased a new stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 186,163 shares of the credit services provider’s stock, valued at approximately $2,843,000.

Other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of Oaktree Specialty Lending by 6.2% during the second quarter. Truist Financial Corp now owns 22,357 shares of the credit services provider’s stock valued at $421,000 after purchasing an additional 1,303 shares during the last quarter. Bfsg LLC increased its position in Oaktree Specialty Lending by 208.1% in the third quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock worth $135,000 after buying an additional 5,576 shares during the period. Cornerstone Wealth Management LLC lifted its stake in Oaktree Specialty Lending by 4.8% in the third quarter. Cornerstone Wealth Management LLC now owns 15,852 shares of the credit services provider’s stock valued at $259,000 after buying an additional 730 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Oaktree Specialty Lending by 46.9% during the third quarter. Blue Trust Inc. now owns 26,000 shares of the credit services provider’s stock valued at $424,000 after acquiring an additional 8,300 shares during the period. Finally, Schubert & Co bought a new position in shares of Oaktree Specialty Lending during the third quarter worth about $300,000. 36.79% of the stock is currently owned by institutional investors.

Oaktree Specialty Lending Trading Down 0.1 %

Shares of OCSL stock opened at $15.47 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a 50-day simple moving average of $15.57 and a 200 day simple moving average of $16.12. Oaktree Specialty Lending Co. has a fifty-two week low of $14.89 and a fifty-two week high of $20.43. The stock has a market capitalization of $1.27 billion, a P/E ratio of 23.09 and a beta of 1.08.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. The company had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $91.93 million. During the same quarter in the previous year, the company posted $0.57 EPS. The business’s revenue was down 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Oaktree Specialty Lending Co. will post 2.07 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.34%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 328.36%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. B. Riley lowered shares of Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 target price for the company. in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods decreased their price objective on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 target price (down previously from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price target on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Oaktree Specialty Lending presently has an average rating of “Hold” and a consensus target price of $16.75.

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.