Icon Advisers Inc. Co. Buys New Shares in Oaktree Specialty Lending Corp. $OCSL

Icon Advisers Inc. Co. bought a new position in Oaktree Specialty Lending Corp. (NASDAQ:OCSL) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 60,226 shares of the credit services provider’s stock, valued at approximately $786,000. Icon Advisers Inc. Co. owned 0.07% of Oaktree Specialty Lending as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. MTM Investment Management LLC purchased a new position in shares of Oaktree Specialty Lending in the second quarter valued at about $34,000. Sound Income Strategies LLC purchased a new stake in shares of Oaktree Specialty Lending during the third quarter worth about $42,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Oaktree Specialty Lending during the second quarter worth about $46,000. Allworth Financial LP bought a new stake in Oaktree Specialty Lending during the 2nd quarter valued at approximately $48,000. Finally, State of Alaska Department of Revenue bought a new stake in Oaktree Specialty Lending during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on OCSL shares. Zacks Research cut Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings cut shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 9th. Wall Street Zen raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Wells Fargo & Company lowered their target price on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Finally, Lucid Cap Mkts upgraded shares of Oaktree Specialty Lending to a “hold” rating in a research report on Monday, December 15th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $13.75.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL opened at $11.46 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.16 and a quick ratio of 0.16. Oaktree Specialty Lending Corp. has a 1-year low of $11.09 and a 1-year high of $16.21. The business has a 50 day simple moving average of $12.32 and a two-hundred day simple moving average of $13.05. The stock has a market capitalization of $1.01 billion, a PE ratio of 31.83 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.The business had revenue of $74.48 million for the quarter, compared to analysts’ expectations of $75.72 million. During the same period in the prior year, the firm earned $0.54 EPS. On average, research analysts predict that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 14.0%. The ex-dividend date of this dividend is Monday, March 16th. Oaktree Specialty Lending’s payout ratio is presently 444.44%.

Oaktree Specialty Lending Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.