Van ECK Associates Corp Has $32.01 Million Stock Holdings in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Van ECK Associates Corp raised its holdings in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,094,609 shares of the credit services provider’s stock after acquiring an additional 71,808 shares during the quarter. Van ECK Associates Corp owned about 2.55% of Oaktree Specialty Lending worth $32,006,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OCSL. Truist Financial Corp lifted its stake in Oaktree Specialty Lending by 6.2% in the second quarter. Truist Financial Corp now owns 22,357 shares of the credit services provider’s stock valued at $421,000 after acquiring an additional 1,303 shares during the last quarter. Bfsg LLC lifted its stake in shares of Oaktree Specialty Lending by 208.1% in the third quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock worth $135,000 after buying an additional 5,576 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Oaktree Specialty Lending by 4.8% in the third quarter. Cornerstone Wealth Management LLC now owns 15,852 shares of the credit services provider’s stock worth $259,000 after buying an additional 730 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Oaktree Specialty Lending by 46.9% in the third quarter. Blue Trust Inc. now owns 26,000 shares of the credit services provider’s stock worth $424,000 after buying an additional 8,300 shares during the last quarter. Finally, Schubert & Co acquired a new stake in shares of Oaktree Specialty Lending in the third quarter worth $300,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OCSL. JMP Securities cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Finally, Citizens Jmp cut shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Trading Up 0.6 %

Shares of Oaktree Specialty Lending stock opened at $15.78 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of 23.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.30 and a quick ratio of 0.19. The company’s fifty day moving average price is $15.52 and its two-hundred day moving average price is $16.08. Oaktree Specialty Lending Co. has a 52-week low of $14.89 and a 52-week high of $20.43.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $86.65 million for the quarter, compared to analyst estimates of $91.93 million. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, analysts expect that Oaktree Specialty Lending Co. will post 2.07 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 10.14%. The ex-dividend date is Monday, March 17th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 328.36%.

Oaktree Specialty Lending Profile

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.