Gabelli Funds LLC Sells 145,000 Shares of Oaktree Specialty Lending Corp. $OCSL

Gabelli Funds LLC lessened its position in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) by 82.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,000 shares of the credit services provider’s stock after selling 145,000 shares during the period. Gabelli Funds LLC’s holdings in Oaktree Specialty Lending were worth $382,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Garner Asset Management Corp bought a new position in Oaktree Specialty Lending during the 4th quarter worth about $38,000. State of Alaska Department of Revenue bought a new position in Oaktree Specialty Lending during the 3rd quarter worth about $51,000. Tower Research Capital LLC TRC increased its holdings in Oaktree Specialty Lending by 1,025.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,793 shares in the last quarter. Security National Bank increased its holdings in Oaktree Specialty Lending by 40.6% during the 4th quarter. Security National Bank now owns 4,607 shares of the credit services provider’s stock worth $59,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Close Asset Management Ltd increased its holdings in Oaktree Specialty Lending by 19.4% during the 3rd quarter. Close Asset Management Ltd now owns 7,400 shares of the credit services provider’s stock worth $97,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 36.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OCSL. Zacks Research upgraded Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Oppenheimer set a $13.00 price objective on Oaktree Specialty Lending in a report on Wednesday, May 6th. Weiss Ratings upgraded Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, March 13th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Oaktree Specialty Lending presently has an average rating of “Hold” and an average price target of $11.83.

Oaktree Specialty Lending Trading Down 0.3%

Shares of OCSL stock opened at $11.77 on Friday. The firm has a 50 day moving average price of $11.88 and a two-hundred day moving average price of $12.45. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.04 billion, a PE ratio of 20.65 and a beta of 0.52. Oaktree Specialty Lending Corp. has a 12-month low of $10.63 and a 12-month high of $14.77.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Oaktree Specialty Lending had a net margin of 16.66% and a return on equity of 9.56%. The firm had revenue of $69.74 million during the quarter, compared to the consensus estimate of $74.35 million. During the same period last year, the business posted $0.45 earnings per share. As a group, analysts predict that Oaktree Specialty Lending Corp. will post 1.5 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Monday, June 15th. Oaktree Specialty Lending’s payout ratio is presently 280.70%.

Insider Buying and Selling at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $10.77 per share, for a total transaction of $26,925.00. Following the completion of the transaction, the director owned 23,500 shares in the company, valued at approximately $253,095. This represents a 11.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

About Oaktree Specialty Lending

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.