Accel Wealth Management Takes $244,000 Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Accel Wealth Management acquired a new stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) during the fourth quarter, HoldingsChannel reports. The firm acquired 11,952 shares of the credit services provider’s stock, valued at approximately $244,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in Oaktree Specialty Lending by 237.3% during the 4th quarter. Millennium Management LLC now owns 2,374,777 shares of the credit services provider’s stock worth $16,315,000 after acquiring an additional 1,670,805 shares during the period. Morgan Stanley lifted its position in Oaktree Specialty Lending by 25.7% during the 3rd quarter. Morgan Stanley now owns 1,486,654 shares of the credit services provider’s stock worth $29,911,000 after acquiring an additional 303,600 shares during the period. BlackRock Inc. lifted its position in Oaktree Specialty Lending by 18.3% during the 3rd quarter. BlackRock Inc. now owns 1,349,903 shares of the credit services provider’s stock worth $8,099,000 after acquiring an additional 209,037 shares during the period. Van ECK Associates Corp lifted its position in Oaktree Specialty Lending by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,277,429 shares of the credit services provider’s stock worth $25,702,000 after acquiring an additional 79,137 shares during the period. Finally, Legal & General Group Plc lifted its position in Oaktree Specialty Lending by 4.1% during the 4th quarter. Legal & General Group Plc now owns 1,214,821 shares of the credit services provider’s stock worth $8,352,000 after acquiring an additional 48,182 shares during the period. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Insider Activity

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell acquired 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $20.07 per share, with a total value of $40,140.00. Following the completion of the transaction, the director now directly owns 11,166 shares in the company, valued at $224,101.62. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company raised their price target on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $22.00 to $19.00 in a report on Friday, February 2nd. B. Riley cut Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Monday, January 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Oaktree Specialty Lending in a report on Tuesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.80.

Oaktree Specialty Lending Price Performance

OCSL stock traded up $0.16 during midday trading on Thursday, hitting $19.66. 769,786 shares of the stock were exchanged, compared to its average volume of 711,626. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.25 and a current ratio of 0.25. The stock’s 50-day moving average price is $20.04 and its 200-day moving average price is $20.01. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 12.96 and a beta of 1.06. Oaktree Specialty Lending Co. has a fifty-two week low of $17.99 and a fifty-two week high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Thursday, February 1st. The credit services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). The company had revenue of $97.99 million for the quarter, compared to analysts’ expectations of $99.48 million. Oaktree Specialty Lending had a return on equity of 12.22% and a net margin of 28.81%. During the same period in the previous year, the business posted $0.61 EPS. Research analysts predict that Oaktree Specialty Lending Co. will post 2.31 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 11.19%. The ex-dividend date of this dividend is Thursday, March 14th. Oaktree Specialty Lending’s payout ratio is 145.70%.

Oaktree Specialty Lending Company 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.