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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) reached a new 52-week low on Monday . The stock traded as low as $14.96 and last traded at $14.98, with a volume of 218048 shares traded. The stock had previously closed at $15.18.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citizens Jmp cut Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. B. Riley lowered shares of Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 price target on the stock. in a report on Wednesday, December 11th. Keefe, Bruyette & Woods dropped their price objective on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, November 20th. StockNews.com upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Hold” and a consensus price target of $16.75.

Oaktree Specialty Lending Price Performance

The company’s fifty day moving average is $16.07 and its two-hundred day moving average is $16.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 20.79 and a beta of 1.07.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.70%. The ex-dividend date is Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio is presently 305.56%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of large investors have recently modified their holdings of OCSL. PFS Partners LLC boosted its holdings in Oaktree Specialty Lending by 601.4% in the 3rd quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 1,660 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Oaktree Specialty Lending during the second quarter valued at approximately $56,000. Sunbelt Securities Inc. lifted its position in shares of Oaktree Specialty Lending by 37.0% during the second quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock worth $127,000 after purchasing an additional 1,820 shares in the last quarter. Bfsg LLC boosted its stake in shares of Oaktree Specialty Lending by 208.1% in the third quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock valued at $135,000 after purchasing an additional 5,576 shares during the period. Finally, MML Investors Services LLC acquired a new stake in Oaktree Specialty Lending during the 3rd quarter valued at $175,000. Institutional investors and hedge funds 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.