Oaktree Specialty Lending Co. (NASDAQ:OCSL) Stake Lifted by Gabelli Funds LLC

Gabelli Funds LLC raised its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 3.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 168,375 shares of the credit services provider’s stock after buying an additional 5,155 shares during the quarter. Gabelli Funds LLC’s holdings in Oaktree Specialty Lending were worth $3,310,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Cape Investment Advisory Inc. bought a new position in Oaktree Specialty Lending in the 4th quarter worth approximately $39,000. Bfsg LLC bought a new stake in shares of Oaktree Specialty Lending during the fourth quarter valued at about $71,000. AdvisorNet Financial Inc lifted its holdings in Oaktree Specialty Lending by 21.4% in the fourth quarter. AdvisorNet Financial Inc now owns 5,100 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 900 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Oaktree Specialty Lending in the 1st quarter valued at about $142,000. Finally, Financial Strategies Group Inc. bought a new position in Oaktree Specialty Lending in the 1st quarter valued at about $197,000. Institutional investors and hedge funds own 36.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on OCSL shares. JPMorgan Chase & Co. reduced their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Wells Fargo & Company cut their target price on Oaktree Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Oaktree Specialty Lending Price Performance

OCSL stock traded up $0.30 on Friday, hitting $18.41. 720,931 shares of the company’s stock traded hands, compared to its average volume of 777,136. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 13.74 and a beta of 1.09. Oaktree Specialty Lending Co. has a 1-year low of $17.63 and a 1-year high of $21.64. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $18.88 and a 200-day moving average of $19.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $94.03 million for the quarter, compared to analysts’ expectations of $99.66 million. Oaktree Specialty Lending had a net margin of 25.90% and a return on equity of 12.16%. During the same period in the prior year, the company posted $0.62 earnings per share. On average, analysts forecast that Oaktree Specialty Lending Co. will post 2.28 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.20 dividend on an annualized basis and a yield of 11.95%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 164.18%.

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.