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

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s stock price 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 Analyst Weigh In

A number of analysts have recently weighed in on OCSL shares. Keefe, Bruyette & Woods raised Oaktree Specialty Lending to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company lowered Oaktree Specialty Lending from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $18.00 to $17.00 in a research report on Monday, August 26th. Oppenheimer cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $20.00 to $18.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Finally, B. Riley decreased their price target on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.25.

Oaktree Specialty Lending Price Performance

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $17.17 and a 200-day moving average of $18.57. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.96 and a beta of 1.09.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Thursday, August 1st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $94.97 million during the quarter, compared to analyst estimates of $99.35 million. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. On average, equities research analysts predict that Oaktree Specialty Lending Co. will post 2.24 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The company 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 annualized dividend and a dividend yield of 13.66%. The ex-dividend date is Monday, September 16th. Oaktree Specialty Lending’s payout ratio is 164.18%.

Institutional Trading of Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in OCSL. Janney Montgomery Scott LLC increased its position in Oaktree Specialty Lending by 5.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 41,597 shares of the credit services provider’s stock worth $849,000 after buying an additional 2,161 shares during the period. Brown Advisory Inc. lifted its position in Oaktree Specialty Lending by 19.5% in the fourth quarter. Brown Advisory Inc. now owns 55,520 shares of the credit services provider’s stock valued at $1,134,000 after purchasing an additional 9,067 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Oaktree Specialty Lending by 3.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 68,167 shares of the credit services provider’s stock valued at $1,392,000 after purchasing an additional 2,086 shares in the last quarter. Wells Fargo & Company MN increased its position in Oaktree Specialty Lending by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 328,362 shares of the credit services provider’s stock worth $6,705,000 after purchasing an additional 29,952 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter worth approximately $483,000. Institutional investors and hedge funds 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.