Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) by 2.3% in the 1st quarter, Holdings Channel reports. The firm owned 876,989 shares of the credit services provider’s stock after acquiring an additional 19,965 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Oaktree Specialty Lending were worth $6,463,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in Oaktree Specialty Lending by 39.6% in the 4th quarter. CIBC Asset Management Inc now owns 14,016 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 3,974 shares during the period. Welch & Forbes LLC bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at about $108,000. Atlas Private Wealth Advisors bought a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at about $129,000. Capital Asset Advisory Services LLC bought a new stake in shares of Oaktree Specialty Lending during the 4th quarter valued at about $155,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Oaktree Specialty Lending by 23.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 25,518 shares of the credit services provider’s stock valued at $190,000 after acquiring an additional 4,818 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on OCSL. StockNews.com began coverage on Oaktree Specialty Lending in a research report on Thursday, March 31st. They set a “hold” rating for the company. Hovde Group dropped their price target on Oaktree Specialty Lending to $7.00 in a research report on Friday, May 20th.
Oaktree Specialty Lending Stock Performance
Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The credit services provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $64.30 million for the quarter, compared to analysts’ expectations of $58.95 million. Oaktree Specialty Lending had a return on equity of 9.59% and a net margin of 53.18%. On average, sell-side analysts anticipate that Oaktree Specialty Lending Co. will post 0.72 EPS for the current fiscal year.
Oaktree Specialty Lending Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 9.92%. This is a boost from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, June 14th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 86.84%.
Insider Activity at Oaktree Specialty Lending
In related news, Director Phyllis R. Caldwell acquired 5,000 shares of the stock in a transaction on Wednesday, May 11th. The stock was purchased at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the completion of the transaction, the director now owns 7,700 shares of the company’s stock, valued at approximately $54,208. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Phyllis R. Caldwell purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average price of $7.04 per share, with a total value of $35,200.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $54,208. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mathew Pendo purchased 18,381 shares of the company’s stock in a transaction on Monday, May 9th. The shares were purchased at an average cost of $7.06 per share, with a total value of $129,769.86. Following the transaction, the president now directly owns 103,591 shares in the company, valued at $731,352.46. The disclosure for this purchase can be found here. In the last three months, insiders have bought 30,881 shares of company stock valued at $215,195. Corporate insiders own 0.32% of the company’s stock.
Oaktree Specialty Lending Company Profile
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.
- Get a free copy of the StockNews.com research report on Oaktree Specialty Lending (OCSL)
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