Short Interest in Oaktree Specialty Lending Corp (NASDAQ:OCSL) Decreases By 19.5%
Oaktree Specialty Lending Corp (NASDAQ:OCSL) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 247,000 shares, a decline of 19.5% from the June 30th total of 306,800 shares. Based on an average daily volume of 375,500 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are short sold.
In related news, major shareholder Leonard M. Tannenbaum sold 57,834 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $5.45, for a total value of $315,195.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 59,357 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $5.40, for a total transaction of $320,527.80. The disclosure for this sale can be found here. Insiders sold a total of 910,712 shares of company stock valued at $5,014,858 in the last three months. 0.16% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Smith Moore & CO. grew its holdings in shares of Oaktree Specialty Lending by 3.6% during the 1st quarter. Smith Moore & CO. now owns 65,472 shares of the credit services provider’s stock worth $339,000 after purchasing an additional 2,278 shares during the period. DNB Asset Management AS boosted its holdings in Oaktree Specialty Lending by 2.0% in the 2nd quarter. DNB Asset Management AS now owns 130,200 shares of the credit services provider’s stock worth $706,000 after acquiring an additional 2,600 shares during the period. Advisor Group Inc. boosted its holdings in Oaktree Specialty Lending by 9.2% in the 2nd quarter. Advisor Group Inc. now owns 31,163 shares of the credit services provider’s stock worth $170,000 after acquiring an additional 2,638 shares during the period. Joseph P. Lucia & Associates LLC purchased a new position in Oaktree Specialty Lending in the 1st quarter worth approximately $525,000. Finally, SMH Capital Advisors Inc. boosted its holdings in Oaktree Specialty Lending by 1.2% in the 1st quarter. SMH Capital Advisors Inc. now owns 238,639 shares of the credit services provider’s stock worth $1,236,000 after acquiring an additional 2,873 shares during the period. Institutional investors and hedge funds own 47.62% of the company’s stock.
OCSL traded up $0.11 during midday trading on Tuesday, hitting $5.15. The company’s stock had a trading volume of 529,667 shares, compared to its average volume of 380,909. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $713.96 million, a price-to-earnings ratio of 11.98, a P/E/G ratio of 5.29 and a beta of 0.52. The firm has a 50-day simple moving average of $5.32. Oaktree Specialty Lending has a 52-week low of $4.08 and a 52-week high of $5.75.
Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Wednesday, August 7th. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Oaktree Specialty Lending had a return on equity of 7.76% and a net margin of 96.11%. The company had revenue of $36.67 million during the quarter, compared to analysts’ expectations of $39.57 million. On average, sell-side analysts forecast that Oaktree Specialty Lending will post 0.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date is Thursday, September 12th. Oaktree Specialty Lending’s payout ratio is currently 88.37%.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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