Legacy Bridge LLC purchased a new stake in shares of Oaktree Specialty Lending Corp (NASDAQ:OCSL) in the first quarter, HoldingsChannel reports. The institutional investor purchased 5,500 shares of the credit services provider’s stock, valued at approximately $28,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Timber Hill LLC bought a new stake in Oaktree Specialty Lending during the fourth quarter valued at about $72,000. Jane Street Group LLC bought a new stake in Oaktree Specialty Lending during the fourth quarter valued at about $76,000. Arcadia Investment Management Corp MI bought a new stake in Oaktree Specialty Lending during the fourth quarter valued at about $85,000. Two Sigma Securities LLC bought a new stake in Oaktree Specialty Lending during the fourth quarter valued at about $100,000. Finally, Marshall Wace North America L.P. bought a new stake in Oaktree Specialty Lending during the third quarter valued at about $122,000. Institutional investors own 46.20% of the company’s stock.
In other Oaktree Specialty Lending news, Director Craig A. Jacobson purchased 19,160 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was purchased at an average price of $5.22 per share, with a total value of $100,015.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leonard M. Tannenbaum sold 101,101 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $5.30, for a total transaction of $535,835.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 456,133 shares of company stock valued at $2,403,438. 0.17% of the stock is owned by corporate insiders.
Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Thursday, February 7th. The credit services provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Oaktree Specialty Lending had a net margin of 73.31% and a return on equity of 7.54%. The business had revenue of $38.28 million during the quarter, compared to analysts’ expectations of $36.80 million. As a group, sell-side analysts anticipate that Oaktree Specialty Lending Corp will post 0.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 7.24%. The ex-dividend date of this dividend was Thursday, March 14th. Oaktree Specialty Lending’s payout ratio is presently 88.37%.
A number of equities research analysts have issued reports on OCSL shares. TheStreet upgraded shares of Oaktree Specialty Lending from a “c+” rating to a “b” rating in a report on Monday, February 4th. ValuEngine upgraded shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating in a report on Friday, February 8th. National Securities upgraded shares of Oaktree Specialty Lending from a “neutral” rating to a “buy” rating and upped their price target for the company from $5.00 to $7.00 in a report on Thursday, February 7th. Finally, Zacks Investment Research upgraded shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $5.83.
Oaktree Specialty Lending Company Profile
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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