Paloma Partners Management Co Invests $348,000 in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Paloma Partners Management Co purchased a new position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 21,318 shares of the credit services provider’s stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors have also modified their holdings of OCSL. Private Management Group Inc. boosted its position in shares of Oaktree Specialty Lending by 91.5% during the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock worth $22,958,000 after buying an additional 672,561 shares during the period. Van ECK Associates Corp raised its stake in shares of Oaktree Specialty Lending by 21.0% in the second 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. Harbor Capital Advisors Inc. raised its stake in shares of Oaktree Specialty Lending by 148.2% in the third quarter. Harbor Capital Advisors Inc. now owns 408,612 shares of the credit services provider’s stock valued at $6,664,000 after acquiring an additional 243,963 shares in the last quarter. TrueMark Investments LLC acquired a new stake in shares of Oaktree Specialty Lending in the second quarter valued at $4,243,000. Finally, TMD Wealth Management LLC raised its stake in shares of Oaktree Specialty Lending by 16.0% in the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock valued at $10,679,000 after acquiring an additional 78,404 shares in the last quarter. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on OCSL shares. Citizens Jmp cut Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. B. Riley reduced their price objective on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. StockNews.com cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Stock Performance

Shares of OCSL stock opened at $16.37 on Thursday. The stock’s 50-day moving average is $16.18 and its two-hundred day moving average is $17.27. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 22.51 and a beta of 1.07. Oaktree Specialty Lending Co. has a 1 year low of $15.40 and a 1 year high of $21.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 13.44%. The ex-dividend date is Monday, December 16th. Oaktree Specialty Lending’s payout ratio is 305.56%.

About Oaktree Specialty Lending

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.