Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Sees Significant Growth in Short Interest

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 2,235,393 shares, a growth of 19.9% from the January 29th total of 1,864,884 shares. Based on an average daily trading volume, of 959,179 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.5% of the company’s shares are short sold. Currently, 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 959,179 shares, the days-to-cover ratio is currently 2.3 days.

Oaktree Specialty Lending Stock Performance

OCSL stock traded up $0.19 during trading hours on Wednesday, hitting $11.61. 556,850 shares of the stock were exchanged, compared to its average volume of 792,220. Oaktree Specialty Lending has a 12 month low of $11.09 and a 12 month high of $16.25. 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 $1.02 billion, a P/E ratio of 32.25 and a beta of 0.52. The company has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $13.09.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Tuesday, February 3rd. The credit services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.54 EPS. On average, analysts forecast that Oaktree Specialty Lending will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.60 annualized dividend and a dividend yield of 13.8%. Oaktree Specialty Lending’s dividend payout ratio is presently 444.44%.

Institutional Trading of Oaktree Specialty Lending

A number of large investors have recently bought and sold shares of OCSL. MTM Investment Management LLC acquired a new position in Oaktree Specialty Lending during the second quarter worth $34,000. Garner Asset Management Corp acquired a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth about $38,000. Sound Income Strategies LLC bought a new position in Oaktree Specialty Lending in the 3rd quarter valued at about $42,000. Northwestern Mutual Wealth Management Co. acquired a new position in Oaktree Specialty Lending during the 4th quarter valued at about $42,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in Oaktree Specialty Lending during the 2nd quarter worth approximately $46,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.