Oaktree Specialty Lending (NASDAQ:OCSL) Shares Gap Down – Here’s Why

Oaktree Specialty Lending Corp. (NASDAQ:OCSL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $13.59, but opened at $13.16. Oaktree Specialty Lending shares last traded at $12.7810, with a volume of 354,596 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Zacks Research raised Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Oaktree Specialty Lending in a research report on Monday. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.25.

Oaktree Specialty Lending Trading Down 0.0%

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 33.06 and a beta of 0.52. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $13.53 and a two-hundred day moving average of $13.69.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Tuesday, November 18th. The credit services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $76.87 million for the quarter, compared to analyst estimates of $76.51 million. Oaktree Specialty Lending had a net margin of 10.71% and a return on equity of 10.31%. During the same quarter last year, the firm posted $0.45 earnings per share. On average, research analysts expect that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current year.

Oaktree Specialty Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Monday, December 15th. Oaktree Specialty Lending’s dividend payout ratio is 410.26%.

Institutional Trading of Oaktree Specialty Lending

A number of hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its position in Oaktree Specialty Lending by 49.4% in the first quarter. LPL Financial LLC now owns 159,341 shares of the credit services provider’s stock worth $2,447,000 after purchasing an additional 52,681 shares in the last quarter. US Bancorp DE boosted its stake in Oaktree Specialty Lending by 388.9% in the 1st quarter. US Bancorp DE now owns 3,256 shares of the credit services provider’s stock valued at $50,000 after buying an additional 2,590 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in Oaktree Specialty Lending in the first quarter valued at $47,000. National Bank of Canada FI raised its stake in Oaktree Specialty Lending by 259.0% during the first quarter. National Bank of Canada FI now owns 1,691 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Oaktree Specialty Lending by 246.2% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 162,044 shares of the credit services provider’s stock valued at $2,489,000 after purchasing an additional 115,240 shares in the last quarter. Institutional investors own 36.79% of the company’s stock.

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.