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

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $11.09 and last traded at $11.1550, with a volume of 246784 shares trading hands. The stock had previously closed at $11.21.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research downgraded Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Wells Fargo & Company cut their price target on Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings lowered shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. Finally, Lucid Cap Mkts upgraded shares of Oaktree Specialty Lending to a “hold” rating in a report on Monday, December 15th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $13.75.

Oaktree Specialty Lending Trading Down 0.6%

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 firm has a market capitalization of $981.76 million, a price-to-earnings ratio of 30.88 and a beta of 0.52. The company has a fifty day moving average price of $12.20 and a two-hundred day moving average price of $12.99.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.The company had revenue of $74.48 million during the quarter, compared to analysts’ expectations of $75.72 million. During the same period in the prior year, the business earned $0.54 EPS. As a group, research analysts forecast that Oaktree Specialty Lending Corp. will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 14.4%. The ex-dividend date of this dividend is Monday, March 16th. Oaktree Specialty Lending’s dividend payout ratio is 444.44%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OCSL. MTM Investment Management LLC purchased a new stake in shares of Oaktree Specialty Lending in the 2nd quarter valued at approximately $34,000. Garner Asset Management Corp purchased a new position in shares of Oaktree Specialty Lending during the fourth quarter worth $38,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter valued at $42,000. Sound Income Strategies LLC purchased a new stake in shares of Oaktree Specialty Lending in 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 valued at $46,000. Institutional investors and hedge funds own 36.79% of the company’s stock.

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.