Oaktree Specialty Lending (NASDAQ:OCSL) Sets New 12-Month Low – Should You Sell?

Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) reached a new 52-week low during trading on Tuesday . The company traded as low as $14.89 and last traded at $15.07, with a volume of 423648 shares. The stock had previously closed at $14.96.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OCSL. Citizens Jmp lowered shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 19th. JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. 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. Oppenheimer reiterated a “market perform” rating and issued a $18.00 target price on shares of Oaktree Specialty Lending in a research note on Friday, November 22nd. Finally, B. Riley lowered shares of Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 target price for the company. in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.75.

Oaktree Specialty Lending Stock Up 0.7 %

The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $15.70 and a 200-day moving average price of $16.51. The firm has a market cap of $1.24 billion, a P/E ratio of 20.93 and a beta of 1.07.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 14.60%. The ex-dividend date was Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 305.56%.

Institutional Investors Weigh In On Oaktree Specialty Lending

Several hedge funds have recently modified their holdings of OCSL. Confluence Investment Management LLC lifted its holdings in Oaktree Specialty Lending by 0.5% during the fourth quarter. Confluence Investment Management LLC now owns 130,410 shares of the credit services provider’s stock worth $1,993,000 after buying an additional 689 shares during the period. Rivernorth Capital Management LLC purchased a new stake in shares of Oaktree Specialty Lending during the 3rd quarter worth $6,598,000. Barclays PLC boosted its position in Oaktree Specialty Lending by 2.1% during the third quarter. Barclays PLC now owns 105,766 shares of the credit services provider’s stock valued at $1,725,000 after purchasing an additional 2,140 shares in the last quarter. Adalta Capital Management LLC grew its stake in Oaktree Specialty Lending by 12.0% in the third quarter. Adalta Capital Management LLC now owns 45,105 shares of the credit services provider’s stock valued at $736,000 after purchasing an additional 4,840 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Oaktree Specialty Lending in the third quarter worth about $508,000. Hedge funds and other institutional investors own 36.79% of the company’s stock.

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.