DnB Asset Management AS Cuts Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

DnB Asset Management AS decreased its holdings in Oaktree Specialty Lending Co. (NASDAQ:OCSLGet Rating) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 331,411 shares of the credit services provider’s stock after selling 8,236 shares during the period. DnB Asset Management AS owned approximately 0.18% of Oaktree Specialty Lending worth $2,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its holdings in Oaktree Specialty Lending by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 51,863 shares of the credit services provider’s stock valued at $382,000 after buying an additional 1,371 shares during the period. Cibc World Market Inc. raised its stake in shares of Oaktree Specialty Lending by 12.0% during the first quarter. Cibc World Market Inc. now owns 23,990 shares of the credit services provider’s stock valued at $177,000 after purchasing an additional 2,565 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Oaktree Specialty Lending by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 876,354 shares of the credit services provider’s stock valued at $6,459,000 after purchasing an additional 2,890 shares during the period. Mckinley Capital Management LLC Delaware raised its stake in shares of Oaktree Specialty Lending by 0.9% during the first quarter. Mckinley Capital Management LLC Delaware now owns 550,488 shares of the credit services provider’s stock valued at $4,057,000 after purchasing an additional 4,773 shares during the period. Finally, Carmel Capital Partners LLC raised its stake in shares of Oaktree Specialty Lending by 3.3% during the first quarter. Carmel Capital Partners LLC now owns 165,593 shares of the credit services provider’s stock valued at $1,220,000 after purchasing an additional 5,347 shares during the period. Hedge funds and other institutional investors own 59.78% of the company’s stock.

Oaktree Specialty Lending Trading Down 1.5 %

OCSL opened at $6.46 on Wednesday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 22.28 and a beta of 1.24. The firm’s 50 day moving average is $6.90 and its 200-day moving average is $7.00. Oaktree Specialty Lending Co. has a 52-week low of $6.20 and a 52-week high of $7.81. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.48.

Oaktree Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 10.53%. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.17. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 234.48%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.

Oaktree Specialty Lending Profile

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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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Institutional Ownership by Quarter for Oaktree Specialty Lending (NASDAQ:OCSL)

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