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

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.44 and last traded at $12.4250, with a volume of 613569 shares changing hands. The stock had previously closed at $12.77.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Lucid Cap Mkts raised Oaktree Specialty Lending to a “hold” rating in a research report on Monday, December 15th. Zacks Research upgraded Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Oaktree Specialty Lending in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $14.25.

Oaktree Specialty Lending Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.20 and a quick ratio of 0.20. The business’s 50 day moving average price is $13.36 and its 200 day moving average price is $13.55. The stock has a market capitalization of $1.10 billion, a P/E ratio of 31.91 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Tuesday, November 18th. The credit services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Oaktree Specialty Lending had a net margin of 10.71% and a return on equity of 10.31%. The company had revenue of $76.87 million for the quarter, compared to analysts’ expectations of $76.51 million. During the same quarter last year, the company posted $0.45 earnings per share. Sell-side analysts forecast that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current year.

Oaktree Specialty Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.60 annualized dividend and a dividend yield of 12.9%. Oaktree Specialty Lending’s payout ratio is presently 410.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MTM Investment Management LLC purchased a new position in shares of Oaktree Specialty Lending in the second quarter worth approximately $34,000. Abound Wealth Management purchased a new position in shares of Oaktree Specialty Lending during the 2nd quarter worth $35,000. Anchor Investment Management LLC purchased a new position in shares of Oaktree Specialty Lending during the 1st quarter worth $49,000. Sound Income Strategies LLC bought a new stake in shares of Oaktree Specialty Lending during the 3rd quarter valued at $42,000. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of Oaktree Specialty Lending in the 2nd quarter worth $46,000. 36.79% of the stock is owned by hedge funds and other 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.