Glenview Trust co Trims Stock Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Glenview Trust co lessened its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 46.0% in the 4th quarter, Holdings Channel reports. The firm owned 16,148 shares of the credit services provider’s stock after selling 13,752 shares during the period. Glenview Trust co’s holdings in Oaktree Specialty Lending were worth $247,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in Oaktree Specialty Lending in the 4th quarter valued at approximately $44,000. Spire Wealth Management acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth $68,000. Geneos Wealth Management Inc. acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth $93,000. SG Americas Securities LLC acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth $106,000. Finally, EMC Capital Management grew its stake in shares of Oaktree Specialty Lending by 53.2% in 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. Institutional investors and hedge funds own 36.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OCSL. StockNews.com upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. JMP Securities downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price target (down previously from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Oppenheimer reaffirmed a “market perform” rating and set a $18.00 price objective on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd. Finally, 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. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock opened at $15.45 on Tuesday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 23.06 and a beta of 1.05. Oaktree Specialty Lending Co. has a 52 week low of $14.89 and a 52 week high of $19.95. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $15.71 and its two-hundred day moving average is $15.94.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $86.65 million during the quarter, compared to the consensus estimate 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 was down 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Research analysts forecast that Oaktree Specialty Lending Co. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 10.36%. The ex-dividend date is Monday, March 17th. Oaktree Specialty Lending’s payout ratio is currently 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.