Canton Hathaway LLC Takes Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Canton Hathaway LLC purchased a new stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,910 shares of the credit services provider’s stock, valued at approximately $44,000.

Other large investors have also made changes to their positions in the company. Kovitz Investment Group Partners LLC purchased a new position in Oaktree Specialty Lending in the third quarter worth approximately $2,849,000. Barclays PLC grew its position in Oaktree Specialty Lending by 2.1% in the third quarter. Barclays PLC now owns 105,766 shares of the credit services provider’s stock worth $1,725,000 after acquiring an additional 2,140 shares during the period. Stifel Financial Corp grew its position in Oaktree Specialty Lending by 21.2% in the third quarter. Stifel Financial Corp now owns 54,278 shares of the credit services provider’s stock worth $885,000 after acquiring an additional 9,495 shares during the period. Private Management Group Inc. grew its position in Oaktree Specialty Lending by 91.5% in the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock worth $22,958,000 after acquiring an additional 672,561 shares during the period. Finally, Rivernorth Capital Management LLC purchased a new position in Oaktree Specialty Lending in the third quarter worth approximately $6,598,000. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. B. Riley cut Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 price target on the stock. in a research note on Wednesday, December 11th. StockNews.com upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods decreased their price target on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 20th. Finally, Citizens Jmp cut Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Oaktree Specialty Lending currently has an average rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Stock Down 0.7 %

Shares of NASDAQ OCSL opened at $15.91 on Tuesday. The stock has a market cap of $1.31 billion, a P/E ratio of 23.75 and a beta of 1.08. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. Oaktree Specialty Lending Co. has a 12-month low of $14.89 and a 12-month high of $20.13. The business’s fifty day simple moving average is $15.51 and its 200-day simple moving average is $16.04.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $91.93 million. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. As a group, equities analysts predict that Oaktree Specialty Lending Co. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 10.06%. The ex-dividend date of this dividend is Monday, March 17th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 238.81%.

Oaktree Specialty Lending 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.