Carnegie Investment Counsel lowered its position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 43.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,349 shares of the credit services provider's stock after selling 100,183 shares during the period. Carnegie Investment Counsel owned approximately 0.16% of Oaktree Specialty Lending worth $2,093,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. purchased a new stake in shares of Oaktree Specialty Lending during the third quarter valued at approximately $780,000. Centaurus Financial Inc. raised its stake in shares of Oaktree Specialty Lending by 166.0% during the second quarter. Centaurus Financial Inc. now owns 31,515 shares of the credit services provider's stock valued at $593,000 after purchasing an additional 19,667 shares during the period. Truist Financial Corp raised its stake in shares of Oaktree Specialty Lending by 6.2% during the second quarter. Truist Financial Corp now owns 22,357 shares of the credit services provider's stock valued at $421,000 after purchasing an additional 1,303 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Oaktree Specialty Lending by 37.0% during the second quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider's stock valued at $127,000 after purchasing an additional 1,820 shares during the period. Finally, Creative Planning raised its stake in shares of Oaktree Specialty Lending by 11.1% during the second quarter. Creative Planning now owns 45,376 shares of the credit services provider's stock valued at $854,000 after purchasing an additional 4,544 shares during the period. Hedge funds and other institutional investors own 36.79% of the company's stock.
A number of research firms have recently issued reports on OCSL. B. Riley dropped their price objective on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. StockNews.com downgraded shares of Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased their price target on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an "overweight" rating for the company in a research report on Monday, July 29th. Wells Fargo & Company downgraded shares of Oaktree Specialty Lending from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $18.00 to $17.00 in a research report on Monday, August 26th. Finally, JMP Securities decreased their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set a "market outperform" rating for the company in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Oaktree Specialty Lending presently has a consensus rating of "Hold" and an average target price of $18.25.
Check Out Our Latest Stock Analysis on Oaktree Specialty Lending
Oaktree Specialty Lending stock opened at $16.34 on Monday. The company has a market cap of $1.33 billion, a PE ratio of 12.19 and a beta of 1.09. The company has a fifty day moving average price of $16.47 and a two-hundred day moving average price of $18.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. Oaktree Specialty Lending Co. has a 12 month low of $15.56 and a 12 month high of $21.64.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The credit services provider reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.02). The business had revenue of $94.97 million during the quarter, compared to analyst estimates of $99.35 million. Oaktree Specialty Lending had a return on equity of 12.03% and a net margin of 17.21%. Research analysts expect that Oaktree Specialty Lending Co. will post 2.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 13.46%. The ex-dividend date was Monday, September 16th. Oaktree Specialty Lending's dividend payout ratio is presently 164.18%.
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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