Private Management Group Inc. raised its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL - Free Report) by 91.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,407,573 shares of the credit services provider's stock after buying an additional 672,561 shares during the quarter. Private Management Group Inc. owned 1.71% of Oaktree Specialty Lending worth $22,958,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Security National Bank acquired a new position in Oaktree Specialty Lending during the second quarter valued at approximately $42,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Oaktree Specialty Lending during the second quarter worth about $56,000. Sunbelt Securities Inc. lifted its holdings in shares of Oaktree Specialty Lending by 37.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider's stock valued at $127,000 after purchasing an additional 1,820 shares in the last quarter. Bfsg LLC grew its position in shares of Oaktree Specialty Lending by 208.1% in the 3rd quarter. Bfsg LLC now owns 8,255 shares of the credit services provider's stock valued at $135,000 after purchasing an additional 5,576 shares during the period. Finally, ProShare Advisors LLC acquired a new position in shares of Oaktree Specialty Lending in the first quarter valued at approximately $210,000. 36.79% of the stock is owned by institutional investors.
OCSL has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on Oaktree Specialty Lending from $17.00 to $15.50 and set an "equal weight" rating for the company in a report on Tuesday. Oppenheimer cut shares of Oaktree Specialty Lending from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. Keefe, Bruyette & Woods raised shares of Oaktree Specialty Lending to a "hold" rating in a research report on Friday, August 2nd. B. Riley decreased their target price on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an "overweight" rating on the stock in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.00.
Read Our Latest Analysis on Oaktree Specialty Lending
OCSL stock traded down $0.26 during trading hours on Friday, reaching $15.96. The stock had a trading volume of 601,470 shares, compared to its average volume of 659,369. The stock has a market capitalization of $1.31 billion, a PE ratio of 18.34 and a beta of 1.09. The stock has a 50-day simple moving average of $16.42 and a 200 day simple moving average of $17.83. Oaktree Specialty Lending Co. has a fifty-two week low of $15.56 and a fifty-two week high of $21.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.02). The business had revenue of $94.97 million during the quarter, compared to analyst estimates of $99.35 million. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. Analysts predict that Oaktree Specialty Lending Co. will post 2.24 EPS for the current fiscal year.
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.
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