Rivernorth Capital Management LLC acquired a new position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 404,537 shares of the credit services provider's stock, valued at approximately $6,598,000. Rivernorth Capital Management LLC owned approximately 0.49% of Oaktree Specialty Lending as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in OCSL. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Oaktree Specialty Lending by 6.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 186,787 shares of the credit services provider's stock valued at $3,513,000 after acquiring an additional 10,526 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Oaktree Specialty Lending by 6.1% in the second quarter. Carnegie Investment Counsel now owns 228,532 shares of the credit services provider's stock worth $4,299,000 after purchasing an additional 13,111 shares in the last quarter. Security National Bank bought a new stake in shares of Oaktree Specialty Lending in the second quarter worth $42,000. Allspring Global Investments Holdings LLC boosted its holdings in Oaktree Specialty Lending by 8.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 258,591 shares of the credit services provider's stock worth $4,864,000 after purchasing an additional 19,323 shares during the last quarter. Finally, TrueMark Investments LLC bought a new position in Oaktree Specialty Lending in the second quarter valued at $4,243,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently weighed in on OCSL shares. StockNews.com cut Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a report on Tuesday. Oppenheimer reissued a "market perform" rating and issued a $18.00 price objective on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. Wells Fargo & Company lowered their target price on shares of 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. Keefe, Bruyette & Woods decreased their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Wednesday, November 20th. Finally, JMP Securities downgraded Oaktree Specialty Lending from an "outperform" rating to a "market perform" rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.75.
Check Out Our Latest Stock Analysis on Oaktree Specialty Lending
Oaktree Specialty Lending Stock Performance
NASDAQ:OCSL traded down $0.19 during mid-day trading on Friday, reaching $16.04. 1,368,447 shares of the company's stock were exchanged, compared to its average volume of 664,891. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $1.32 billion, a PE ratio of 22.28 and a beta of 1.07. Oaktree Specialty Lending Co. has a one year low of $15.40 and a one year high of $21.64. The business's fifty day simple moving average is $16.19 and its two-hundred day simple moving average is $17.16.
Oaktree Specialty Lending Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 13.72%. The ex-dividend date of this dividend is Monday, December 16th. Oaktree Specialty Lending's dividend payout ratio (DPR) is presently 305.56%.
Oaktree Specialty Lending Profile
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Free Report)
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.
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