Comerica Bank Acquires 8,659 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Comerica Bank boosted its holdings in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 71.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,824 shares of the credit services provider’s stock after acquiring an additional 8,659 shares during the period. Comerica Bank’s holdings in Oaktree Specialty Lending were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OCSL. Canton Hathaway LLC bought a new position in Oaktree Specialty Lending during the fourth quarter worth about $44,000. Spire Wealth Management bought a new position in Oaktree Specialty Lending during the fourth quarter worth about $68,000. Geneos Wealth Management Inc. bought a new position in Oaktree Specialty Lending during the fourth quarter worth about $93,000. SG Americas Securities LLC bought a new position in Oaktree Specialty Lending during the fourth quarter worth about $106,000. Finally, EMC Capital Management lifted its holdings in Oaktree Specialty Lending by 53.2% during the fourth quarter. EMC Capital Management now owns 8,714 shares of the credit services provider’s stock worth $133,000 after acquiring an additional 3,026 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, May 5th. B. Riley initiated coverage on Oaktree Specialty Lending in a report on Tuesday. They issued a “neutral” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.83.

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock opened at $14.34 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50-day moving average is $14.49 and its 200-day moving average is $15.32. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 21.40 and a beta of 0.74. Oaktree Specialty Lending Co. has a one year low of $12.50 and a one year high of $19.80.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). The company had revenue of $70.52 million during the quarter, compared to analyst estimates of $84.67 million. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. During the same period in the prior year, the firm posted $0.56 EPS. Equities analysts predict that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.16%. The ex-dividend date is Monday, June 16th. Oaktree Specialty Lending’s dividend payout ratio is currently 1,230.77%.

Insider Activity at Oaktree Specialty Lending

In related news, Director Craig A. Jacobson bought 14,910 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $13.41 per share, with a total value of $199,943.10. Following the completion of the transaction, the director now owns 71,667 shares in the company, valued at $961,054.47. The trade was a 26.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by company insiders.

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.