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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $14.94 and last traded at $15.02, with a volume of 62739 shares. The stock had previously closed at $15.08.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citizens Jmp lowered Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price objective (down previously from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Oppenheimer restated a “market perform” rating and set a $18.00 target price on shares of Oaktree Specialty Lending in a research note on Friday, November 22nd. Wells Fargo & Company lowered their price target on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Oaktree Specialty Lending presently has a consensus rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Stock Down 0.3 %

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 fifty day moving average of $15.73 and a two-hundred day moving average of $16.59. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 20.89 and a beta of 1.07.

Oaktree Specialty Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.20 annualized dividend and a yield of 14.63%. Oaktree Specialty Lending’s dividend payout ratio is presently 305.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its stake in Oaktree Specialty Lending by 1.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 113,569 shares of the credit services provider’s stock worth $2,136,000 after buying an additional 2,094 shares during the period. PFG Investments LLC boosted its holdings in Oaktree Specialty Lending by 19.6% in the second quarter. PFG Investments LLC now owns 22,219 shares of the credit services provider’s stock valued at $418,000 after purchasing an additional 3,642 shares in the last quarter. TMD Wealth Management LLC raised its holdings in Oaktree Specialty Lending by 16.0% during the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock worth $10,679,000 after purchasing an additional 78,404 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth approximately $56,000. Finally, MRP Capital Investments LLC purchased a new position in shares of Oaktree Specialty Lending in the 2nd quarter valued at $815,000. 36.79% of the stock is currently owned by hedge funds and other 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.