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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OCSL shares. Wells Fargo & Company downgraded shares of Oaktree Specialty Lending from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $18.00 to $17.00 in a research note on Monday, August 26th. Oppenheimer lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $20.00 to $18.00 in a research note on Friday, August 2nd. StockNews.com downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised shares of Oaktree Specialty Lending to a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Hold” and an average target price of $18.25.

Oaktree Specialty Lending Trading Down 2.8 %

The business has a fifty day moving average of $17.23 and a 200-day moving average of $18.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $1.31 billion, a P/E ratio of 12.00 and a beta of 1.09.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings data on Thursday, August 1st. The credit services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $94.97 million during the quarter, compared to the consensus estimate of $99.35 million. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. Analysts anticipate that Oaktree Specialty Lending Co. will post 2.24 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Melia Wealth LLC purchased a new stake in Oaktree Specialty Lending in the 1st quarter valued at $13,168,000. Cercano Management LLC purchased a new stake in shares of Oaktree Specialty Lending in the first quarter valued at about $8,659,000. Van ECK Associates Corp lifted its position in shares of Oaktree Specialty Lending by 21.0% during the second quarter. Van ECK Associates Corp now owns 1,885,293 shares of the credit services provider’s stock valued at $35,463,000 after purchasing an additional 327,416 shares in the last quarter. TrueMark Investments LLC purchased a new position in Oaktree Specialty Lending during the second quarter worth about $4,243,000. Finally, Significant Wealth Partners LLC grew its position in Oaktree Specialty Lending by 217.9% in the 1st quarter. Significant Wealth Partners LLC now owns 204,075 shares of the credit services provider’s stock worth $4,012,000 after purchasing an additional 139,881 shares in the last quarter. Institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Company Profile

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.