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

Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) hit a new 52-week low during trading on Tuesday . The company traded as low as $15.40 and last traded at $15.52, with a volume of 270524 shares. The stock had previously closed at $16.15.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating on the stock in a research report on Monday, July 29th. JMP Securities cut their target price on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 30th. 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 report on Friday, August 2nd. Oppenheimer lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.

Oaktree Specialty Lending Stock Down 2.1 %

The stock has a fifty day moving average of $16.21 and a 200-day moving average of $17.52. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 18.56 and a beta of 1.09. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFS Partners LLC lifted its holdings in shares of Oaktree Specialty Lending by 601.4% during the 3rd quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock valued at $32,000 after buying an additional 1,660 shares during the last quarter. Security National Bank bought a new position in Oaktree Specialty Lending during the second quarter valued at approximately $42,000. Brown Brothers Harriman & Co. acquired a new stake in Oaktree Specialty Lending in the second quarter valued at approximately $56,000. Sunbelt Securities Inc. grew its position in Oaktree Specialty Lending by 37.0% in the second quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock worth $127,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Bfsg LLC increased its stake in shares of Oaktree Specialty Lending by 208.1% during the 3rd quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock worth $135,000 after purchasing an additional 5,576 shares during the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

About Oaktree Specialty Lending

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.