Naviter Wealth LLC Invests $2.35 Million in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Naviter Wealth LLC purchased a new position in Oaktree Specialty Lending Co. (NASDAQ:OCSL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 153,731 shares of the credit services provider’s stock, valued at approximately $2,349,000. Naviter Wealth LLC owned about 0.19% of Oaktree Specialty Lending at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OCSL. PFS Partners LLC grew its holdings 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 during the last quarter. Canton Hathaway LLC purchased a new stake in Oaktree Specialty Lending in the fourth quarter worth about $44,000. Spire Wealth Management purchased a new stake in Oaktree Specialty Lending in the fourth quarter worth about $68,000. Geneos Wealth Management Inc. purchased a new stake in Oaktree Specialty Lending in the fourth quarter worth about $93,000. Finally, SG Americas Securities LLC purchased a new stake in Oaktree Specialty Lending in the fourth quarter worth about $106,000. 36.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OCSL shares. Oppenheimer reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of Oaktree Specialty Lending in a research note on Friday, November 22nd. Citizens Jmp lowered shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods decreased their price target on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday, November 20th. B. Riley lowered shares of Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 price target for the company. in a research report on Wednesday, December 11th. Finally, StockNews.com raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday, December 18th. 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 data from MarketBeat, Oaktree Specialty Lending currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock opened at $16.11 on Friday. The firm has a market capitalization of $1.32 billion, a P/E ratio of 24.05 and a beta of 1.05. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $15.64 and a 200 day moving average price of $16.02. Oaktree Specialty Lending Co. has a 52 week low of $14.89 and a 52 week high of $20.01.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. The company had revenue of $86.65 million for the quarter, compared to the consensus estimate of $91.93 million. During the same quarter in the prior year, the company earned $0.57 EPS. Oaktree Specialty Lending’s quarterly revenue was down 11.6% on a year-over-year basis. Sell-side analysts expect that Oaktree Specialty Lending Co. will post 2.06 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.93%. Oaktree Specialty Lending’s payout ratio is 238.81%.

Oaktree Specialty Lending Company 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.