Oaktree Specialty Lending (NASDAQ:OCSL) Sets New 52-Week Low – Here’s What Happened

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $14.89 and last traded at $15.07, with a volume of 423648 shares. The stock had previously closed at $14.96.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OCSL shares. JMP Securities lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 19th. B. Riley cut Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Wednesday, December 11th. Keefe, Bruyette & Woods reduced their price target on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, November 20th. Citizens Jmp lowered Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Oppenheimer reissued a “market perform” rating and issued a $18.00 target price on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Stock Performance

The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 21.44 and a beta of 1.07. The stock’s 50 day moving average is $15.69 and its 200 day moving average is $16.48.

Oaktree Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given 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 yield of 14.25%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 305.56%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OCSL. Private Management Group Inc. lifted its position in Oaktree Specialty Lending by 91.5% during 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 buying an additional 672,561 shares during the period. Rivernorth Capital Management LLC purchased a new position in shares of Oaktree Specialty Lending during the 3rd quarter worth about $6,598,000. Harbor Capital Advisors Inc. boosted its position in shares of Oaktree Specialty Lending by 148.2% in the third quarter. Harbor Capital Advisors Inc. now owns 408,612 shares of the credit services provider’s stock worth $6,664,000 after acquiring an additional 243,963 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Oaktree Specialty Lending in the third quarter valued at approximately $2,849,000. Finally, Van ECK Associates Corp increased its position in Oaktree Specialty Lending by 7.3% during the third quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock worth $32,567,000 after purchasing an additional 137,508 shares during the last quarter. Hedge funds and other institutional investors 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.