Oaktree Specialty Lending (NASDAQ:OCSL) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently issued reports on the company. B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Oppenheimer set a $13.00 target price on Oaktree Specialty Lending in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.83.

Oaktree Specialty Lending Trading Down 0.1%

Shares of Oaktree Specialty Lending stock opened at $13.15 on Tuesday. Oaktree Specialty Lending has a 12-month low of $10.63 and a 12-month high of $14.31. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.16 billion, a PE ratio of 27.40 and a beta of 0.49. The company has a 50-day moving average of $12.19 and a two-hundred day moving average of $11.98.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Wednesday, August 5th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $69.15 million for the quarter, compared to analyst estimates of $69.40 million. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%. On average, research analysts anticipate that Oaktree Specialty Lending will post 1.51 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 250.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OCSL. HB Wealth Management LLC purchased a new stake in Oaktree Specialty Lending in the 2nd quarter valued at approximately $199,000. Private Management Group Inc. grew its holdings in Oaktree Specialty Lending by 4.0% during the 2nd quarter. Private Management Group Inc. now owns 3,869,484 shares of the credit services provider’s stock valued at $46,202,000 after buying an additional 147,990 shares during the last quarter. Van ECK Associates Corp increased its position in Oaktree Specialty Lending by 28.9% during the second quarter. Van ECK Associates Corp now owns 2,195,651 shares of the credit services provider’s stock worth $26,216,000 after buying an additional 492,070 shares in the last quarter. Equitable Holdings Inc. purchased a new position in Oaktree Specialty Lending during the second quarter worth $506,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Oaktree Specialty Lending in the second quarter worth $1,900,000. 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.