Oaktree Specialty Lending (NASDAQ:OCSL) Shares Gap Down to $16.54

Oaktree Specialty Lending Co. (NASDAQ:OCSL) shares gapped down before the market opened on Monday . The stock had previously closed at $16.54, but opened at $16.07. Oaktree Specialty Lending shares last traded at $15.96, with a volume of 60,089 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OCSL. Wells Fargo & Company cut Oaktree Specialty Lending from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $18.00 to $17.00 in a research report on Monday, August 26th. B. Riley reduced their price target on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending to a “hold” rating in a report on Friday, August 2nd. JMP Securities dropped their target price on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.25.

Oaktree Specialty Lending Stock Performance

The firm has a market capitalization of $1.31 billion, a PE ratio of 12.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. The company’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $18.60.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Thursday, August 1st. The credit services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. The business had revenue of $94.97 million for the quarter, compared to analysts’ expectations of $99.35 million. As a group, equities research analysts expect that Oaktree Specialty Lending Co. will post 2.24 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.68%. The ex-dividend date is Monday, September 16th. Oaktree Specialty Lending’s payout ratio is currently 164.18%.

Institutional Trading of Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Oaktree Specialty Lending by 21.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,885,293 shares of the credit services provider’s stock worth $35,463,000 after purchasing an additional 327,416 shares during the period. Claret Asset Management Corp boosted its position in shares of Oaktree Specialty Lending by 2.8% in the first quarter. Claret Asset Management Corp now owns 1,191,891 shares of the credit services provider’s stock valued at $23,433,000 after acquiring an additional 32,989 shares during the period. Melia Wealth LLC purchased a new position in Oaktree Specialty Lending during the first quarter valued at approximately $13,168,000. TMD Wealth Management LLC increased its holdings in Oaktree Specialty Lending by 16.0% during the 2nd quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock worth $10,679,000 after acquiring an additional 78,404 shares during the period. Finally, Cercano Management LLC purchased a new stake in Oaktree Specialty Lending in the 1st quarter worth approximately $8,659,000. 36.79% of the stock is currently owned by institutional investors.

About Oaktree Specialty Lending

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.