Truist Financial Corp Buys 1,303 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Truist Financial Corp boosted its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,357 shares of the credit services provider’s stock after acquiring an additional 1,303 shares during the period. Truist Financial Corp’s holdings in Oaktree Specialty Lending were worth $421,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in Oaktree Specialty Lending by 11.2% in the second quarter. ProShare Advisors LLC now owns 11,893 shares of the credit services provider’s stock valued at $224,000 after acquiring an additional 1,194 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Oaktree Specialty Lending by 0.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 232,244 shares of the credit services provider’s stock valued at $4,566,000 after buying an additional 1,726 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Oaktree Specialty Lending by 37.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock valued at $127,000 after buying an additional 1,820 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Oaktree Specialty Lending by 1.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 113,569 shares of the credit services provider’s stock valued at $2,136,000 after buying an additional 2,094 shares in the last quarter. Finally, Security National Bank bought a new stake in shares of Oaktree Specialty Lending during the 2nd quarter valued at $42,000. Institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ:OCSL opened at $16.58 on Friday. Oaktree Specialty Lending Co. has a fifty-two week low of $15.56 and a fifty-two week high of $21.64. The business has a 50-day simple moving average of $16.50 and a two-hundred day simple moving average of $18.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 12.37 and a beta of 1.09.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its 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 return on equity of 12.03% and a net margin of 17.21%. The business had revenue of $94.97 million during the quarter, compared to analysts’ expectations of $99.35 million. On average, analysts expect that Oaktree Specialty Lending Co. will post 2.24 earnings per share for the current year.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 13.27%. The ex-dividend date of this dividend was Monday, September 16th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 164.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OCSL. JPMorgan Chase & Co. dropped their target price on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating on the stock in a report on Monday, July 29th. B. Riley dropped their target price on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Oppenheimer lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $20.00 to $18.00 in a research report on Friday, August 2nd. JMP Securities lowered their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. Finally, StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.25.

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.