Texas Capital Bank Wealth Management Services Inc lowered its holdings in Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 56.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 46,804 shares of the credit services provider's stock after selling 61,733 shares during the quarter. Texas Capital Bank Wealth Management Services Inc owned about 0.06% of Oaktree Specialty Lending worth $715,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in OCSL. Invesco Ltd. lifted its position in shares of Oaktree Specialty Lending by 1,300.1% in the fourth quarter. Invesco Ltd. now owns 875,913 shares of the credit services provider's stock valued at $13,384,000 after acquiring an additional 813,352 shares in the last quarter. Private Management Group Inc. grew its stake in shares of Oaktree Specialty Lending by 51.3% during the fourth quarter. Private Management Group Inc. now owns 2,129,202 shares of the credit services provider's stock valued at $32,534,000 after acquiring an additional 721,629 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at $8,225,000. Rivernorth Capital Management LLC bought a new stake in shares of Oaktree Specialty Lending in the 3rd quarter valued at approximately $6,598,000. Finally, Bruni J V & Co. Co. grew its holdings in shares of Oaktree Specialty Lending by 26.0% during the fourth quarter. Bruni J V & Co. Co. now owns 1,929,491 shares of the credit services provider's stock valued at $29,483,000 after purchasing an additional 398,241 shares during the last quarter. Hedge funds and other institutional investors own 36.79% of the company's stock.
Oaktree Specialty Lending Trading Up 0.3 %
NASDAQ:OCSL traded up $0.04 during mid-day trading on Wednesday, hitting $14.21. The company had a trading volume of 256,331 shares, compared to its average volume of 740,181. The firm has a market cap of $1.17 billion, a P/E ratio of 21.21 and a beta of 0.84. The business's fifty day moving average is $15.32 and its two-hundred day moving average is $15.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.30. Oaktree Specialty Lending Co. has a fifty-two week low of $12.50 and a fifty-two week high of $19.95.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its 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 firm 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 business posted $0.57 EPS. The business's quarterly revenue was down 11.6% compared to the same quarter last year. As a group, research analysts expect that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current year.
Oaktree Specialty Lending Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.26%. Oaktree Specialty Lending's payout ratio is presently 238.81%.
Wall Street Analyst Weigh In
OCSL has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.42.
Check Out Our Latest Stock Analysis on Oaktree Specialty Lending
About Oaktree Specialty Lending
(
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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