Legacy Capital Wealth Partners LLC Raises Stock Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Legacy Capital Wealth Partners LLC grew its holdings in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) by 3.4% during the fourth quarter, Holdings Channel reports. The firm owned 182,039 shares of the credit services provider’s stock after purchasing an additional 5,998 shares during the quarter. Oaktree Specialty Lending comprises about 0.6% of Legacy Capital Wealth Partners LLC’s holdings, making the stock its 26th largest position. Legacy Capital Wealth Partners LLC’s holdings in Oaktree Specialty Lending were worth $1,358,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of OCSL. Oaktree Capital Management LP increased its stake in shares of Oaktree Specialty Lending by 1,526.9% during the third quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit services provider’s stock worth $31,701,000 after acquiring an additional 4,214,368 shares during the period. Invesco Ltd. raised its stake in Oaktree Specialty Lending by 911.0% during the fourth quarter. Invesco Ltd. now owns 1,870,776 shares of the credit services provider’s stock worth $13,956,000 after purchasing an additional 1,685,736 shares during the period. Millennium Management LLC raised its stake in Oaktree Specialty Lending by 149.5% during the third quarter. Millennium Management LLC now owns 2,260,466 shares of the credit services provider’s stock worth $15,959,000 after purchasing an additional 1,354,562 shares during the period. Waverton Investment Management Ltd raised its stake in Oaktree Specialty Lending by 37.9% during the fourth quarter. Waverton Investment Management Ltd now owns 2,025,071 shares of the credit services provider’s stock worth $15,107,000 after purchasing an additional 556,889 shares during the period. Finally, Ares Management LLC increased its position in shares of Oaktree Specialty Lending by 12.1% in the third quarter. Ares Management LLC now owns 5,096,419 shares of the credit services provider’s stock worth $35,981,000 after acquiring an additional 549,497 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Several research firms have recently issued reports on OCSL. StockNews.com began coverage on shares of Oaktree Specialty Lending in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research report on Tuesday, May 10th. Finally, Hovde Group dropped their price objective on shares of Oaktree Specialty Lending to $7.00 in a research report on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Oaktree Specialty Lending currently has a consensus rating of “Buy” and a consensus target price of $7.81.

In other Oaktree Specialty Lending news, President Mathew Pendo bought 18,381 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $7.06 per share, for a total transaction of $129,769.86. Following the acquisition, the president now directly owns 103,591 shares of the company’s stock, valued at $731,352.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phyllis R. Caldwell bought 5,000 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was acquired at an average price of $6.80 per share, for a total transaction of $34,000.00. Following the acquisition, the director now directly owns 12,700 shares in the company, valued at $86,360. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 30,981 shares of company stock worth $218,262. Insiders own 0.32% of the company’s stock.

Shares of NASDAQ:OCSL traded up $0.10 during trading on Thursday, hitting $6.91. The company’s stock had a trading volume of 26,948 shares, compared to its average volume of 1,144,463. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.09 and a current ratio of 0.09. Oaktree Specialty Lending Co. has a fifty-two week low of $6.57 and a fifty-two week high of $7.81. The stock’s 50-day moving average price is $7.26 and its two-hundred day moving average price is $7.39. The company has a market capitalization of $1.27 billion, a PE ratio of 8.96 and a beta of 1.31.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The credit services provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. Oaktree Specialty Lending had a return on equity of 9.59% and a net margin of 53.18%. The business had revenue of $64.30 million for the quarter, compared to analysts’ expectations of $58.95 million. On average, equities analysts predict that Oaktree Specialty Lending Co. will post 0.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $0.165 dividend. This is a boost from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.66 annualized dividend and a dividend yield of 9.55%. Oaktree Specialty Lending’s payout ratio is 84.21%.

Oaktree Specialty Lending Company Profile (Get Rating)

Oaktree Specialty Lending Corporation is a business development company 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.

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