Legal & General Group Plc Has $8.31 Million Stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Legal & General Group Plc decreased its position in Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,463 shares of the credit services provider's stock after selling 53,309 shares during the quarter. Legal & General Group Plc owned 0.66% of Oaktree Specialty Lending worth $8,314,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its stake in Oaktree Specialty Lending by 1,300.1% during the 4th quarter. Invesco Ltd. now owns 875,913 shares of the credit services provider's stock valued at $13,384,000 after purchasing an additional 813,352 shares in the last quarter. Private Management Group Inc. raised its position in shares of Oaktree Specialty Lending by 51.3% during the 4th quarter. Private Management Group Inc. now owns 2,129,202 shares of the credit services provider's stock worth $32,534,000 after purchasing an additional 721,629 shares during the period. Generali Asset Management SPA SGR bought a new stake in Oaktree Specialty Lending in the fourth quarter valued at $8,225,000. Rivernorth Capital Management LLC acquired a new position in Oaktree Specialty Lending during the 3rd quarter valued at about $6,598,000. Finally, Bruni J V & Co. Co. grew its holdings in Oaktree Specialty Lending by 26.0% in the 4th quarter. Bruni J V & Co. Co. now owns 1,929,491 shares of the credit services provider's stock worth $29,483,000 after buying an additional 398,241 shares in the last quarter. 36.79% of the stock is owned by institutional investors and hedge funds.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL traded up $0.12 during trading on Thursday, hitting $14.54. The company's stock had a trading volume of 86,324 shares, compared to its average volume of 743,609. Oaktree Specialty Lending Co. has a 52 week low of $12.50 and a 52 week high of $19.95. The firm has a 50 day moving average price of $15.15 and a 200 day moving average price of $15.60. The firm has a market cap of $1.20 billion, a P/E ratio of 21.69 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The business had revenue of $86.65 million for the quarter, compared to analyst estimates of $91.93 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Oaktree Specialty Lending's quarterly revenue was down 11.6% on a year-over-year basis. Equities research analysts forecast that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.01%. The ex-dividend date of this dividend was Monday, March 17th. Oaktree Specialty Lending's dividend payout ratio (DPR) is 238.81%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OCSL. JPMorgan Chase & Co. lowered their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat, Oaktree Specialty Lending currently has a consensus rating of "Hold" and an average target price of $16.25.

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.