Short Interest in Oaktree Specialty Lending Co. (NASDAQ:OCSL) Drops By 28.3%

by · The Markets Daily

Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,040,000 shares, a decline of 28.3% from the March 15th total of 1,450,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 824,600 shares, the days-to-cover ratio is presently 1.3 days.

Oaktree Specialty Lending Stock Performance

NASDAQ:OCSL traded up $0.37 during mid-day trading on Friday, reaching $14.35. 810,382 shares of the stock were exchanged, compared to its average volume of 748,289. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. Oaktree Specialty Lending has a 1 year low of $12.50 and a 1 year high of $19.95. The company has a 50 day simple moving average of $15.24 and a 200-day simple moving average of $15.64. The stock has a market capitalization of $1.18 billion, a P/E ratio of 21.42 and a beta of 0.84.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. The business had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $91.93 million. During the same period in the previous year, the company posted $0.57 EPS. The company’s quarterly revenue was down 11.6% on a year-over-year basis. Analysts anticipate that Oaktree Specialty Lending will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.40 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.15%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 238.81%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OCSL. Confluence Investment Management LLC raised its holdings in Oaktree Specialty Lending by 0.5% in the 4th quarter. Confluence Investment Management LLC now owns 130,410 shares of the credit services provider’s stock valued at $1,993,000 after acquiring an additional 689 shares during the last quarter. Mandatum Life Insurance Co Ltd raised its stake in Oaktree Specialty Lending by 2.3% during the fourth quarter. Mandatum Life Insurance Co Ltd now owns 36,915 shares of the credit services provider’s stock worth $564,000 after purchasing an additional 830 shares during the period. Jackson Hole Capital Partners LLC boosted its holdings in shares of Oaktree Specialty Lending by 10.9% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 18,651 shares of the credit services provider’s stock valued at $285,000 after purchasing an additional 1,830 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Oaktree Specialty Lending by 7.9% during the 4th quarter. Guggenheim Capital LLC now owns 27,234 shares of the credit services provider’s stock valued at $416,000 after buying an additional 1,983 shares during the period. Finally, Sonora Investment Management Group LLC increased its holdings in shares of Oaktree Specialty Lending by 14.6% during the 1st quarter. Sonora Investment Management Group LLC now owns 15,700 shares of the credit services provider’s stock worth $241,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price target on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.42.

Get Our Latest Stock Analysis on Oaktree Specialty Lending

Oaktree Specialty Lending Company Profile

(Get Free Report)

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.

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