Oaktree Specialty Lending (NASDAQ:OCSL) Reaches New 12-Month Low – Here’s What Happened

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s stock price hit 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Citizens Jmp downgraded Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods cut their price objective on 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 equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Stock Performance

The firm has a market capitalization of $1.23 billion, a P/E ratio of 20.81 and a beta of 1.07. The stock has a fifty day moving average of $15.78 and a 200-day moving average of $16.61. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.62.

Oaktree Specialty Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.69%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 305.56%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. PFS Partners LLC raised its holdings in Oaktree Specialty Lending by 601.4% in the 3rd quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 1,660 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Oaktree Specialty Lending during the second quarter worth approximately $56,000. Sunbelt Securities Inc. boosted its stake in Oaktree Specialty Lending by 37.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock valued at $127,000 after purchasing an additional 1,820 shares during the period. Bfsg LLC boosted its stake in Oaktree Specialty Lending by 208.1% in the 3rd quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock valued at $135,000 after purchasing an additional 5,576 shares during the period. Finally, MML Investors Services LLC acquired a new position in Oaktree Specialty Lending in the 3rd quarter valued at $175,000. 36.79% of the stock is owned by institutional investors and hedge funds.

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.