Kovitz Investment Group Partners LLC Invests $2.85 Million in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Kovitz Investment Group Partners LLC purchased a new stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 174,698 shares of the credit services provider’s stock, valued at approximately $2,849,000.

A number of other large investors have also recently added to or reduced their stakes in OCSL. Cornerstone Wealth Management LLC raised its stake in shares of Oaktree Specialty Lending by 4.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 15,852 shares of the credit services provider’s stock valued at $259,000 after purchasing an additional 730 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in 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 last quarter. Apollon Wealth Management LLC raised its stake in Oaktree Specialty Lending by 5.6% during the third quarter. Apollon Wealth Management LLC now owns 18,930 shares of the credit services provider’s stock valued at $309,000 after buying an additional 998 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Oaktree Specialty Lending by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 28,838 shares of the credit services provider’s stock worth $464,000 after buying an additional 1,030 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Oaktree Specialty Lending by 11.2% during the 2nd quarter. ProShare Advisors LLC now owns 11,893 shares of the credit services provider’s stock worth $224,000 after buying an additional 1,194 shares during the last quarter. 36.79% of the stock is currently owned by institutional investors.

Oaktree Specialty Lending Stock Performance

Shares of OCSL opened at $16.37 on Tuesday. The firm has a fifty day moving average of $16.19 and a 200-day moving average of $17.19. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 22.74 and a beta of 1.07. 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 Co. has a 1 year low of $15.40 and a 1 year high of $21.64.

Oaktree Specialty Lending Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Company lowered their target price on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer restated a “market perform” rating and issued a $18.00 price target on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday, November 20th. Finally, B. Riley dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.75.

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.