August 26, 2023
Muzinich & Co. Inc. Reduces Stake in Oaktree Specialty Lending Co.
Investment firm Muzinich & Co. Inc. has recently announced a significant decrease in its position in Oaktree Specialty Lending Co. (NASDAQ:OCSL). According to the company’s most recent Form 13F filing with the Securities & Exchange Commission, Muzinich & Co. Inc. sold 485,897 shares of the credit services provider’s stock during the first quarter of this year, representing a reduction of about 67.3%. As a result, Muzinich & Co. Inc. now owns 235,897 shares of Oaktree Specialty Lending, making it the firm’s twelfth largest holding.
At the end of the most recent quarter, Muzinich & Co. Inc.’s stake in Oaktree Specialty Lending was valued at approximately $4,428,000 or around 0.31% of the company’s overall worth. The decision to decrease its position in Oaktree Specialty Lending suggests that Muzinich & Co. Inc., an investment management firm specializing in corporate credit and high yield bonds, may have reassessed its investment strategy.
Oaktree Specialty Lending itself recently posted its earnings results for the quarter ending on August 3rd. During this period, the credit services provider reported earnings per share (EPS) of $0.62, slightly missing the consensus estimate of $0.63 EPS by ($0.01). While this deviation from expectations is relatively small, it may have influenced investors’ decisions regarding their stake in Oaktree Specialty Lending.
Despite falling short of analysts’ projections on EPS, Oaktree Specialty Lending exhibited positive performance in other areas during this period. The company experienced a return on equity of 11.97% and a net margin of 25.00%. With regards to revenue, Oaktree Specialty Lending generated $101.06 million for the quarter, slightly below the consensus estimate of $102.71 million. However, this still represented a robust increase of 39.7% in comparison to the same period last year.
Looking ahead, sell-side analysts expect Oaktree Specialty Lending Co. to achieve an EPS of 2.47 for the current fiscal year. This projection takes into account both the recent earnings results and market trends within the credit services industry.
Investors and interested individuals can access further research on Oaktree Specialty Lending Co., including comprehensive analysis and insights, through our latest research report on OCSL.
As Muzinich & Co. Inc.’s reduction in holdings indicates a potential shift in investment strategy, it remains to be seen how other market participants will respond to Oaktree Specialty Lending’s recent performance and prospects for growth moving forward.
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Oaktree Specialty Lending: Increasing Interest from Hedge Funds and Institutional Investors Sparks Intrigue and Uncertainty
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”OCSL” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]In a series of recent developments, Oaktree Specialty Lending has seen increased activity from various hedge funds and institutional investors. Tucker Asset Management LLC, Envestnet Asset Management Inc., Bank Julius Baer & Co. Ltd Zurich, Brown Advisory Inc., and Integrated Advisors Network LLC have all acquired new positions in the company during the first quarter. These acquisitions have added to the growing ownership of institutional investors and hedge funds, which now account for 40% of the company’s stock.
Shares of Oaktree Specialty Lending (NASDAQ:OCSL) traded at $19.60 during midday trading on Friday, with a total of 466,882 shares being exchanged. This is comparable to the average volume of 495,046 shares. The stock’s 50-day moving average price stands at $19.74, while its 200-day moving average price is $19.28. With a market cap of $1.51 billion and a beta value of 1.17, Oaktree Specialty Lending holds a significant position in the market.
One notable announcement made by the company is its upcoming quarterly dividend payment on September 29th. Shareholders who are recorded as such on September 15th will receive a dividend of $0.55 per share. This translates to an annualized dividend rate of $2.20 per share and yields returns at 11.22%. The ex-dividend date for this payment is set on September 14th. It is worth mentioning that Oaktree Specialty Lending’s payout ratio currently stands at a staggering 183.33%.
As we analyze research analyst reports regarding OCSL’s performance, it becomes apparent that the company has received considerable attention from industry experts and observers alike.
StockNews.com recently initiated coverage on Oaktree Specialty Lending and issued a rating of “hold” for the company in their research note published on August 17th.
Meanwhile, TheStreet upgraded Oaktree Specialty Lending’s rating from “c+” to “b” in their research note released on May 15th. Finally, Hovde Group downgraded the company’s stock from an “outperform” rating to a “market perform” rating and set a price target of $21.00 for the shares.
These reports indicate that there is some divergence in expert opinions regarding the future prospects of Oaktree Specialty Lending. Nevertheless, it is important to consider that Bloomberg.com reveals an overall consensus rating of “Moderate Buy” for OCSL, with an average target price of $21.90.
This influx of interest from hedge funds and institutional investors, coupled with the diverse range of analyst reports, highlights both the intrigue and uncertainty surrounding Oaktree Specialty Lending. Investors and market observers will undoubtedly follow its progress with keen interest as they navigate these perplexing times.
