Oaktree Specialty Lending (NASDAQ:OCSL) Cut to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Oaktree Specialty Lending (NASDAQ:OCSL – Free Report) from a hold rating to a sell rating in a research report report published on Sunday morning.

A number of other equities analysts have also recently issued reports on OCSL. B. Riley Financial reiterated a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday. Weiss Ratings lowered Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 24th. Finally, Oppenheimer set a $13.00 price objective on Oaktree Specialty Lending in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.83.

Get Our Latest Stock Analysis on Oaktree Specialty Lending

Oaktree Specialty Lending Stock Performance

Shares of OCSL opened at $12.81 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. Oaktree Specialty Lending has a twelve month low of $10.63 and a twelve month high of $14.31. The firm’s 50 day moving average price is $11.97 and its two-hundred day moving average price is $11.94. The firm has a market cap of $1.13 billion, a P/E ratio of 26.69 and a beta of 0.49.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. The company had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. On average, analysts forecast that Oaktree Specialty Lending will post 1.51 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Oaktree Specialty Lending’s payout ratio is presently 250.00%.

Hedge Funds Weigh In On Oaktree Specialty Lending

A number of large investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in shares of Oaktree Specialty Lending by 118.3% in the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 1,707 shares in the last quarter. Garner Asset Management Corp bought a new stake in Oaktree Specialty Lending during the fourth quarter worth about $38,000. Fifth Third Bancorp acquired a new position in Oaktree Specialty Lending during the first quarter valued at approximately $41,000. Allworth Financial LP acquired a new position in Oaktree Specialty Lending during the second quarter valued at approximately $41,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Oaktree Specialty Lending during the fourth quarter valued at approximately $42,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

About Oaktree Specialty Lending

(Get Free Report)

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.

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