Raymond James & Associates Increases Stock Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Posted by on Nov 4th, 2023

Raymond James & Associates lifted its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL – Free Report) by 22.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,321 shares of the credit services provider’s stock after acquiring an additional 10,258 shares during the quarter. Raymond James & Associates owned 0.07% of Oaktree Specialty Lending worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Oaktree Specialty Lending by 20.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 294,942 shares of the credit services provider’s stock worth $5,731,000 after purchasing an additional 49,898 shares during the period. SVB Wealth LLC boosted its stake in shares of Oaktree Specialty Lending by 14.0% in the 2nd quarter. SVB Wealth LLC now owns 11,628 shares of the credit services provider’s stock worth $226,000 after buying an additional 1,428 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Oaktree Specialty Lending by 29.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,224 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 500 shares during the period. RNC Capital Management LLC increased its position in Oaktree Specialty Lending by 4.7% during the second quarter. RNC Capital Management LLC now owns 11,411 shares of the credit services provider’s stock valued at $222,000 after acquiring an additional 517 shares during the last quarter. Finally, Cornerstone Advisory LLC lifted its holdings in Oaktree Specialty Lending by 8.9% in the second quarter. Cornerstone Advisory LLC now owns 83,933 shares of the credit services provider’s stock valued at $1,594,000 after acquiring an additional 6,886 shares during the period. 39.25% of the stock is owned by hedge funds and other institutional investors.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ:OCSL opened at $19.75 on Friday. The firm’s 50 day simple moving average is $19.67 and its two-hundred day simple moving average is $19.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $1.52 billion, a P/E ratio of 16.46 and a beta of 1.14. Oaktree Specialty Lending Co. has a 1-year low of $17.70 and a 1-year high of $21.69.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last issued its earnings results on Thursday, August 3rd. The credit services provider reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The firm had revenue of $101.06 million during the quarter, compared to the consensus estimate of $102.71 million. Oaktree Specialty Lending had a return on equity of 11.97% and a net margin of 25.00%. The company’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. Research analysts expect that Oaktree Specialty Lending Co. will post 2.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Hovde Group downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and set a $21.00 price target for the company. in a research note on Friday, August 4th. StockNews.com initiated coverage on shares of Oaktree Specialty Lending in a report on Thursday, October 5th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.90.

Check Out Our Latest Analysis on Oaktree Specialty Lending

Oaktree Specialty Lending Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Oaktree Specialty Lending (NASDAQ:OCSL)

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