TMD Wealth Management LLC Acquires 78,404 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

TMD Wealth Management LLC increased its stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 16.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 567,718 shares of the credit services provider’s stock after acquiring an additional 78,404 shares during the quarter. Oaktree Specialty Lending comprises approximately 2.3% of TMD Wealth Management LLC’s holdings, making the stock its 15th largest holding. TMD Wealth Management LLC’s holdings in Oaktree Specialty Lending were worth $10,679,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in Oaktree Specialty Lending by 21.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,885,293 shares of the credit services provider’s stock valued at $35,463,000 after acquiring an additional 327,416 shares in the last quarter. Claret Asset Management Corp raised its stake in shares of Oaktree Specialty Lending by 2.8% in the first quarter. Claret Asset Management Corp now owns 1,191,891 shares of the credit services provider’s stock valued at $23,433,000 after purchasing an additional 32,989 shares in the last quarter. Melia Wealth LLC bought a new position in Oaktree Specialty Lending in the first quarter worth $13,168,000. Cercano Management LLC bought a new position in Oaktree Specialty Lending in the first quarter worth $8,659,000. Finally, Wells Fargo & Company MN boosted its stake in Oaktree Specialty Lending by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 328,362 shares of the credit services provider’s stock worth $6,705,000 after buying an additional 29,952 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL opened at $16.54 on Friday. Oaktree Specialty Lending Co. has a 1-year low of $15.56 and a 1-year high of $21.64. The company has a 50 day moving average of $17.23 and a 200-day moving average of $18.61. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 12.34 and a beta of 1.09.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Thursday, August 1st. The credit services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. The business had revenue of $94.97 million for the quarter, compared to analyst estimates of $99.35 million. On average, equities analysts forecast that Oaktree Specialty Lending Co. will post 2.24 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.55 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.30%. Oaktree Specialty Lending’s dividend payout ratio is 164.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending to a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a research note on Monday, July 29th. Oppenheimer downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $20.00 to $18.00 in a report on Friday, August 2nd. JMP Securities dropped their target price on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating for the company in a report on Tuesday, July 30th. Finally, B. Riley decreased their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.25.

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.