(OCSL) – Oaktree Specialty Lending Insider processes $ 2.8 million in company stock
Leonard Tannenbaum, initiated to Oaktree Specialty Loans (NASDAQ: OCSL), made a large insider sale on Nov. 17, according to a new SEC filing.
What happened: A Form 4 filing from United States Securities Commission Wednesday showed that Tannenbaum sold 370,815 shares of Oaktree Specialty Loans at prices ranging from $ 7.45 to $ 7.56. The total transaction was $ 2,800,800.
Following the operation, Tannenbaum still owns 17,563,516 shares of the company, valued at $ 130,426,669.00.
Oaktree Specialty Loans the shares are trading down 0.85% to $ 7.43 as of this writing on Friday morning.
Why Insider Trading Matters
Insider trading should not be used primarily in making an investment decision, but an insider trading can be a big factor in the decision to invest.
In legal terms, an “insider” refers to any shareholder who owns at least 10% of a company. This can include senior executives and large hedge funds. These insiders are required to notify the public of their transactions via a Form 4, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, it indicates that they expect the stock to rise.
Insider selling, on the other hand, can be done for a variety of reasons and doesn’t necessarily mean the seller thinks the shares are going to go down.
Important transaction codes
Investors prefer to focus on transactions that take place in the open market, shown in Table I of Form 4 filing. A P in box 3 indicates a purchase, while S indicates a sale. Transaction code VS indicates the conversion of an option, and the transaction code A indicates that the insider may have been forced to sell shares in order to receive compensation that was promised to him when he was hired by the company.
Check out Oaktree Specialty Lending’s full list of insider trading.
This article was generated by Benzinga’s automated content engine and edited by an editor.