Oaktree Specialty Lending (NASDAQ:OCSL) Sets New 52-Week Low – Here’s What Happened

Oaktree Specialty Lending Corp. (NASDAQ:OCSL)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $11.09 and last traded at $11.46, with a volume of 762313 shares traded. The stock had previously closed at $11.34.

Analysts Set New Price Targets

OCSL has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Wells Fargo & Company decreased their target price on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Weiss Ratings lowered shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. Zacks Research downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Finally, Lucid Cap Mkts upgraded shares of Oaktree Specialty Lending to a “hold” rating in a research report on Monday, December 15th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.75.

Oaktree Specialty Lending Stock Performance

The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.02 billion, a PE ratio of 32.25 and a beta of 0.52. The firm’s fifty day moving average price is $12.37 and its 200 day moving average price is $13.08.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $74.48 million during the quarter, compared to analyst estimates of $75.72 million. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.During the same period last year, the company earned $0.54 earnings per share. On average, research analysts anticipate that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Monday, March 16th. Oaktree Specialty Lending’s payout ratio is currently 444.44%.

Institutional Trading of Oaktree Specialty Lending

A number of institutional investors have recently added to or reduced their stakes in the business. Private Management Group Inc. lifted its stake in shares of Oaktree Specialty Lending by 8.1% in the 4th quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider’s stock valued at $41,524,000 after purchasing an additional 245,207 shares during the last quarter. Bruni J V & Co. Co. raised its holdings in Oaktree Specialty Lending by 0.3% during the fourth quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider’s stock valued at $31,795,000 after buying an additional 8,691 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Oaktree Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,173,257 shares of the credit services provider’s stock worth $28,361,000 after buying an additional 134,557 shares during the last quarter. Generali Asset Management SPA SGR boosted its stake in shares of Oaktree Specialty Lending by 10.6% during the 3rd quarter. Generali Asset Management SPA SGR now owns 2,087,981 shares of the credit services provider’s stock worth $27,248,000 after acquiring an additional 199,415 shares in the last quarter. Finally, Claret Asset Management Corp increased its holdings in shares of Oaktree Specialty Lending by 11.8% during the 2nd quarter. Claret Asset Management Corp now owns 1,700,738 shares of the credit services provider’s stock valued at $23,232,000 after acquiring an additional 179,563 shares during the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.