Oaktree Specialty Lending (NASDAQ:OCSL) Reaches New 52-Week Low – Time to Sell?

Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) hit a new 52-week low during trading on Monday . The company traded as low as $14.96 and last traded at $14.98, with a volume of 218048 shares trading hands. The stock had previously closed at $15.18.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OCSL. Keefe, Bruyette & Woods reduced their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Oaktree Specialty Lending in a research report on Wednesday, November 20th. StockNews.com raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Wednesday, December 18th. Citizens Jmp downgraded Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer reiterated a “market perform” rating and set a $18.00 price target on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Stock Up 1.7 %

The company has a market cap of $1.25 billion, a P/E ratio of 21.17 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.19 and a quick ratio of 0.19. The company has a 50 day moving average of $16.02 and a 200-day moving average of $16.89.

Oaktree Specialty Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 14.44%. The ex-dividend date of this dividend is Monday, December 16th. Oaktree Specialty Lending’s payout ratio is 305.56%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of institutional investors and hedge funds have recently bought and sold shares of OCSL. Van ECK Associates Corp grew its stake in Oaktree Specialty Lending by 7.3% in 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 buying an additional 137,508 shares in the last quarter. Bruni J V & Co. Co. lifted its holdings in shares of Oaktree Specialty Lending by 1.3% during the 3rd quarter. Bruni J V & Co. Co. now owns 1,531,250 shares of the credit services provider’s stock worth $24,975,000 after acquiring an additional 19,790 shares during the last quarter. Private Management Group Inc. grew its position in 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 worth $22,958,000 after acquiring an additional 672,561 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Oaktree Specialty Lending by 7.5% in the third quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock valued at $9,515,000 after acquiring an additional 40,641 shares during the last quarter. Finally, TMD Wealth Management LLC raised its position in Oaktree Specialty Lending by 16.0% during the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock valued at $10,679,000 after purchasing an additional 78,404 shares in the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

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.