Principal Street Partners LLC Takes $478,000 Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Principal Street Partners LLC bought a new position in Oaktree Specialty Lending Co. (NASDAQ:OCSL) in the 3rd quarter, Holdings Channel reports. The fund bought 29,289 shares of the credit services provider’s stock, valued at approximately $478,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PFS Partners LLC increased its stake in shares of Oaktree Specialty Lending by 601.4% in the third quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 1,660 shares in the last quarter. Security National Bank purchased a new stake in Oaktree Specialty Lending in the 2nd quarter worth $42,000. Brown Brothers Harriman & Co. purchased a new stake in Oaktree Specialty Lending in the 2nd quarter worth $56,000. Sunbelt Securities Inc. raised its holdings in 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 acquiring an additional 1,820 shares during the period. Finally, Bfsg LLC lifted its position 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 valued at $135,000 after acquiring an additional 5,576 shares in the last quarter. Institutional investors own 36.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OCSL shares. Oppenheimer reissued a “market perform” rating and set a $18.00 target price on shares of Oaktree Specialty Lending in a research note on Friday. JMP Securities downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. B. Riley cut their target price on shares of Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price target on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 price objective (down previously from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Trading Down 0.2 %

Shares of NASDAQ OCSL traded down $0.04 during trading hours on Tuesday, hitting $15.98. 20,028 shares of the company traded hands, compared to its average volume of 662,647. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 22.25 and a beta of 1.09. The company’s 50 day moving average price is $16.15 and its 200 day moving average price is $17.40. Oaktree Specialty Lending Co. has a 12 month low of $15.40 and a 12 month high of $21.64. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.62.

Oaktree Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.55 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.20 annualized dividend and a dividend yield of 13.77%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 305.56%.

About Oaktree Specialty Lending

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.