Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Short Interest Up 17.7% in April

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 3,396,986 shares, an increase of 17.7% from the March 31st total of 2,885,480 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,318,680 shares, the days-to-cover ratio is presently 2.6 days.

Insider Transactions at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell purchased 2,500 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $10.77 per share, for a total transaction of $26,925.00. Following the completion of the transaction, the director owned 23,500 shares in the company, valued at $253,095. This represents a 11.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Oaktree Specialty Lending during the 1st quarter worth approximately $133,000. Sound Income Strategies LLC grew its position in Oaktree Specialty Lending by 9.2% during the 1st quarter. Sound Income Strategies LLC now owns 53,995 shares of the credit services provider’s stock worth $604,000 after purchasing an additional 4,535 shares in the last quarter. MQS Management LLC purchased a new position in Oaktree Specialty Lending during the 1st quarter worth approximately $182,000. Next Level Private LLC purchased a new position in Oaktree Specialty Lending during the 1st quarter worth approximately $291,000. Finally, NewEdge Advisors LLC grew its position in Oaktree Specialty Lending by 87.7% during the 4th quarter. NewEdge Advisors LLC now owns 27,748 shares of the credit services provider’s stock worth $354,000 after purchasing an additional 12,961 shares in the last quarter. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on OCSL. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 15th. Wells Fargo & Company decreased their price target on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Zacks Research upgraded shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. decreased their price target on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Wall Street Zen upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.17.

Oaktree Specialty Lending Trading Up 1.9%

NASDAQ OCSL traded up $0.24 on Friday, hitting $12.86. 652,637 shares of the stock were exchanged, compared to its average volume of 1,116,878. Oaktree Specialty Lending has a 52-week low of $10.63 and a 52-week high of $14.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 35.72 and a beta of 0.52. The company’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $12.62.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. The firm had revenue of $74.48 million for the quarter, compared to analysts’ expectations of $75.72 million. During the same period in the previous year, the company posted $0.54 EPS. Research analysts predict that Oaktree Specialty Lending will post 1.49 EPS for the current year.

Oaktree Specialty Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.4%. The ex-dividend date was Monday, March 16th. Oaktree Specialty Lending’s payout ratio is presently 444.44%.

About Oaktree Specialty Lending

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.