Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Receives $11.83 Average Price Target from Brokerages

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) have received a consensus rating of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $11.8333.

Several research analysts recently issued reports on the company. Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Wall Street Zen downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Tuesday. B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Finally, Oppenheimer set a $13.00 target price on Oaktree Specialty Lending in a report on Wednesday, May 6th.

Oaktree Specialty Lending Price Performance

Oaktree Specialty Lending stock opened at $13.16 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 27.42 and a beta of 0.49. The firm has a 50-day moving average of $12.16 and a two-hundred day moving average of $11.97. Oaktree Specialty Lending has a 1 year low of $10.63 and a 1 year high of $14.31.

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

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Oaktree Specialty Lending’s payout ratio is presently 250.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bruni J V & Co. Co. bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter valued at about $29,549,160,000. Legal & General Group Plc bought a new position in shares of Oaktree Specialty Lending during the second quarter valued at approximately $8,980,000. Melia Wealth LLC purchased a new position in Oaktree Specialty Lending during the second quarter valued at approximately $8,707,000. Van ECK Associates Corp increased its holdings 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 valued at $26,216,000 after buying an additional 492,070 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in Oaktree Specialty Lending by 298.9% in the second quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider’s stock worth $8,556,000 after buying an additional 469,328 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors.

About Oaktree Specialty Lending

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.