Oaktree Specialty Lending Co. (NASDAQ:OCSL) Sees Large Decrease in Short Interest

Oaktree Specialty Lending Co. (NASDAQ:OCSL) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 689,200 shares, a decrease of 26.5% from the December 15th total of 938,200 shares. Based on an average trading volume of 763,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.9% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 target price (down previously from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Keefe, Bruyette & Woods lowered their target price 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. Wells Fargo & Company cut their price target on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer reiterated 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. Finally, JMP Securities lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, Oaktree Specialty Lending presently has a consensus rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Price Performance

Shares of Oaktree Specialty Lending stock traded up $0.17 during midday trading on Wednesday, hitting $15.44. 483,411 shares of the company traded hands, compared to its average volume of 517,246. The firm’s fifty day moving average price is $15.69 and its 200-day moving average price is $16.48. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 21.44 and a beta of 1.07. Oaktree Specialty Lending has a 12 month low of $14.89 and a 12 month high of $21.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.55 per share. The ex-dividend date was Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.25%. Oaktree Specialty Lending’s payout ratio is presently 305.56%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp grew its position in Oaktree Specialty Lending by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock worth $32,567,000 after acquiring an additional 137,508 shares during the last quarter. Bruni J V & Co. Co. grew its holdings in shares of Oaktree Specialty Lending by 1.3% during the third quarter. Bruni J V & Co. Co. now owns 1,531,250 shares of the credit services provider’s stock worth $24,975,000 after purchasing an additional 19,790 shares during the last quarter. Private Management Group Inc. increased its stake in shares of Oaktree Specialty Lending by 91.5% in the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock valued at $22,958,000 after buying an additional 672,561 shares during the period. Pinnacle Associates Ltd. raised its holdings in Oaktree Specialty Lending by 7.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock valued at $9,515,000 after buying an additional 40,641 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Oaktree Specialty Lending by 148.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 408,612 shares of the credit services provider’s stock worth $6,664,000 after buying an additional 243,963 shares during the period. 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.