Private Management Group Inc. Purchases 672,561 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Private Management Group Inc. lifted its position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 91.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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.’s holdings in Oaktree Specialty Lending were worth $22,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Chicago Partners Investment Group LLC boosted its holdings in Oaktree Specialty Lending by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 28,838 shares of the credit services provider’s stock valued at $464,000 after purchasing an additional 1,030 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Oaktree Specialty Lending by 7.5% in the third quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock valued at $9,515,000 after buying an additional 40,641 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in shares of Oaktree Specialty Lending by 3.8% in the third quarter. Integrated Advisors Network LLC now owns 22,826 shares of the credit services provider’s stock valued at $372,000 after buying an additional 826 shares during the period. abrdn plc grew its position in Oaktree Specialty Lending by 2.8% during the third quarter. abrdn plc now owns 44,336 shares of the credit services provider’s stock worth $726,000 after buying an additional 1,224 shares in the last quarter. Finally, PFG Investments LLC increased its stake in Oaktree Specialty Lending by 10.9% during the 3rd quarter. PFG Investments LLC now owns 24,633 shares of the credit services provider’s stock worth $402,000 after acquiring an additional 2,414 shares during the period. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OCSL shares. StockNews.com downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Wells Fargo & Company decreased their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday. B. Riley reduced their price objective on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. JMP Securities decreased their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th. Finally, Oppenheimer downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $20.00 to $18.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Oaktree Specialty Lending Trading Down 1.6 %

Shares of OCSL stock traded down $0.26 on Friday, hitting $15.96. The company had a trading volume of 601,470 shares, compared to its average volume of 659,369. The firm has a market cap of $1.31 billion, a P/E ratio of 18.34 and a beta of 1.09. Oaktree Specialty Lending Co. has a twelve month low of $15.56 and a twelve month high of $21.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50-day moving average is $16.42 and its two-hundred day moving average is $17.83.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Thursday, August 1st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities research analysts anticipate that Oaktree Specialty Lending Co. will post 2.24 earnings per share for the current fiscal year.

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.