PNC Financial Services Group Inc. Sells 1,560 Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL)

PNC Financial Services Group Inc. reduced its stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,559 shares of the credit services provider’s stock after selling 1,560 shares during the period. PNC Financial Services Group Inc.’s holdings in Oaktree Specialty Lending were worth $481,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OCSL. Van ECK Associates Corp grew its holdings in Oaktree Specialty Lending by 10.8% during the 4th quarter. Van ECK Associates Corp now owns 1,415,358 shares of the credit services provider’s stock worth $28,902,000 after acquiring an additional 137,929 shares during the period. Claret Asset Management Corp grew its holdings in Oaktree Specialty Lending by 2.3% during the 4th quarter. Claret Asset Management Corp now owns 1,158,902 shares of the credit services provider’s stock worth $23,665,000 after acquiring an additional 26,115 shares during the period. Pinnacle Associates Ltd. grew its holdings in Oaktree Specialty Lending by 0.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock worth $11,913,000 after acquiring an additional 3,897 shares during the period. Trinity Financial Advisors LLC grew its holdings in Oaktree Specialty Lending by 106.2% during the 4th quarter. Trinity Financial Advisors LLC now owns 484,890 shares of the credit services provider’s stock worth $9,901,000 after acquiring an additional 249,714 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in Oaktree Specialty Lending by 1.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 331,320 shares of the credit services provider’s stock worth $6,666,000 after acquiring an additional 4,402 shares during the period. 36.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on OCSL. JPMorgan Chase & Co. decreased their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 12th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Oaktree Specialty Lending in a research note on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.67.

Oaktree Specialty Lending Stock Performance

Shares of OCSL opened at $18.82 on Friday. The company has a market cap of $1.53 billion, a PE ratio of 14.04 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.24 and a quick ratio of 0.24. Oaktree Specialty Lending Co. has a one year low of $18.41 and a one year high of $21.64. The stock has a 50-day moving average of $19.32 and a 200-day moving average of $19.84.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $94.03 million for the quarter, compared to analyst estimates of $99.66 million. Oaktree Specialty Lending had a net margin of 25.90% and a return on equity of 12.16%. During the same quarter last year, the firm posted $0.62 EPS. On average, equities research analysts predict that Oaktree Specialty Lending Co. will post 2.28 EPS for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, June 14th. This represents a $2.20 dividend on an annualized basis and a yield of 11.69%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 164.18%.

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.