Insider Sale: Oaktree Specialty Lending Co. (NASDAQ: OCSL) Major shareholder sells 5,000 shares
Oaktree Specialty Lending Co. (NASDAQ: OCSL) major shareholder Leonard M. Tannenbaum sold 5,000 shares of the company in a trade on Thursday, December 2. The stock was sold for an average price of $ 7.50, for a total trade of $ 37,500.00. The transaction was disclosed in a file with the SEC, accessible through this link. Large shareholders who own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
OCSL shares traded up $ 0.04 during trading hours on Monday, reaching $ 7.44. The company had a trading volume of 636,267 shares, compared to its average volume of 779,314. The company has a market capitalization of $ 1.34 billion, a price / earnings ratio of 4.89, a PEG ratio of 0.93 and a beta of 1.40. The company has a fifty-day moving average of $ 7.34 and a 200-day moving average of $ 7.08. Oaktree Specialty Lending Co. has a 12 month low of $ 5.44 and a 12 month high of $ 7.62. The company has a quick ratio of 0.09, a current ratio of 0.09, and a debt ratio of 0.49.
Oaktree Specialty Lending (NASDAQ: OCSL) last released its quarterly results on Tuesday, November 16. The credit services provider reported EPS of $ 0.16 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.15 of $ 0.01. Oaktree Specialty Lending had a net margin of 113.31% and a return on equity of 8.51%. During the same period of the previous year, the company achieved EPS of $ 0.17. On average, stock analysts expect Oaktree Specialty Lending Co. to have 0.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 31. Investors of record on Wednesday, December 15 will receive a dividend of $ 0.155. The ex-dividend date for this dividend is Tuesday, December 14. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $ 0.15. This represents an annualized dividend of $ 0.62 and a dividend yield of 8.33%. Oaktree Specialty Lending’s dividend payout ratio is 38.16%.
Several research firms have published reports on OCSL. JMP Securities raised its price target for Oaktree Specialty Lending shares from $ 8.00 to $ 8.50 and gave the stock a rating of “outperforming the market” in a research report released on Wednesday 17th November. Zacks Investment Research downgraded Oaktree Specialty Lending stock from a “hold” rating to a “buy” rating and set a price target of $ 8.25 on the stock in a research report on Thursday. Four analysts rated the stock with a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $ 7.88.
Hedge funds have recently increased or reduced their holdings in the stock. Newbridge Financial Services Group Inc. increased its stake in Oaktree Specialty Lending by 56.1% during the third quarter. Newbridge Financial Services Group Inc. now owns 4,174 shares of the credit services provider valued at $ 29,000 after purchasing an additional 1,500 shares in the last quarter. Truist Financial Corp increased its stake in Oaktree Specialty Lending by 1.7% during the third quarter. Truist Financial Corp now owns 93,873 shares of the credit service provider valued at $ 662,000 after purchasing an additional 1,536 shares in the last quarter. Stifel Financial Corp increased its stake in Oaktree Specialty Lending by 2.7% in the second quarter. Stifel Financial Corp now owns 69,102 shares of the credit service provider valued at $ 462,000 after purchasing an additional 1,841 shares in the last quarter. Shelton Capital Management increased its stake in Oaktree Specialty Lending by 5.9% during the second quarter. Shelton Capital Management now owns 39,268 shares of the credit services provider valued at $ 263,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Oaktree Specialty Lending by 6.6% during the second quarter. Great West Life Assurance Co. Can now owns 38,887 shares of the credit service provider valued at $ 260,000 after purchasing 2,416 additional shares in the last quarter. Institutional investors and hedge funds hold 68.71% of the company’s shares.
About Oaktree Specialty Loans
Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to growing private, small and medium-sized businesses. While fostering growth is our primary mission, a singular goal guides all of our partnering activities for success.
Read more: What Every Investor Should Understand About Secondary Public Offerings
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Oaktree Specialty Loans now?
Before you consider Oaktree Specialty Lending, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly asking their clients to buy now before the broader market takes hold of… and Oaktree Specialty Lending was not on the list.
Although Oaktree Specialty Lending currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bids.
See the 5 actions here