Oaktree Specialty Lending (NASDAQ:OCSL) Stock Price Down 5.9% – Here’s What Happened

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) shares dropped 5.9% on Tuesday . The company traded as low as $12.12 and last traded at $12.1390. Approximately 296,611 shares changed hands during trading, a decline of 67% from the average daily volume of 897,870 shares. The stock had previously closed at $12.90.

Analyst Ratings Changes

OCSL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, March 13th. Weiss Ratings raised shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. Zacks Research raised shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wells Fargo & Company decreased their price objective 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. Finally, Wall Street Zen raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.17.

Oaktree Specialty Lending Trading Down 5.9%

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 business’s 50-day moving average is $11.73 and its two-hundred day moving average is $12.61. The firm has a market cap of $1.07 billion, a P/E ratio of 33.71 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $69.74 million during the quarter, compared to the consensus estimate of $74.35 million. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, analysts expect that Oaktree Specialty Lending Corp. will post 1.49 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a $0.40 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.60 annualized dividend and a yield of 13.2%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 444.44%.

Insiders Place Their Bets

In other news, Director Phyllis R. Caldwell acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $10.77 per share, for a total transaction of $26,925.00. Following the transaction, the director directly owned 23,500 shares in the company, valued at $253,095. This trade represents a 11.90% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Management Group Inc. raised its position in shares of Oaktree Specialty Lending by 8.1% during the 4th quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider’s stock worth $41,524,000 after buying an additional 245,207 shares in the last quarter. Bruni J V & Co. Co. increased its position in shares of Oaktree Specialty Lending by 0.3% in the fourth quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider’s stock worth $31,795,000 after acquiring an additional 8,691 shares in the last quarter. Van ECK Associates Corp increased 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 acquiring an additional 134,557 shares in the last quarter. UBS Group AG boosted its holdings in shares of Oaktree Specialty Lending by 47.5% during the fourth quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider’s stock worth $16,991,000 after purchasing an additional 429,303 shares during the period. Finally, Melia Wealth LLC boosted its holdings in shares of Oaktree Specialty Lending by 22.8% during the third quarter. Melia Wealth LLC now owns 1,215,842 shares of the credit services provider’s stock worth $15,867,000 after purchasing an additional 225,384 shares during the period. 36.79% of the stock is currently owned by institutional investors.

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.