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

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $12.50 and last traded at $13.90, with a volume of 1338632 shares. The stock had previously closed at $12.94.

Analysts Set New Price Targets

Several research firms have weighed in on OCSL. Keefe, Bruyette & Woods decreased their price target on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating for the company in a research note on Tuesday. StockNews.com raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Oaktree Specialty Lending currently has an average rating of “Hold” and an average target price of $16.42.

Oaktree Specialty Lending Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $15.39 and a 200 day simple moving average of $15.71. The stock has a market capitalization of $1.12 billion, a P/E ratio of 20.25 and a beta of 0.84.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The business had revenue of $86.65 million during the quarter, compared to the consensus estimate of $91.93 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. Oaktree Specialty Lending’s revenue was down 11.6% compared to the same quarter last year. On average, analysts expect that Oaktree Specialty Lending Co. will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.40 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.60 annualized dividend and a dividend yield of 11.79%. Oaktree Specialty Lending’s dividend payout ratio is currently 238.81%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Hedge funds and other institutional investors have recently modified their holdings of the business. Canton Hathaway LLC bought a new stake in Oaktree Specialty Lending during the fourth quarter worth $44,000. Spire Wealth Management purchased a new stake in shares of Oaktree Specialty Lending during the 4th quarter valued at $68,000. Geneos Wealth Management Inc. bought a new stake in shares of Oaktree Specialty Lending during the 4th quarter worth $93,000. SG Americas Securities LLC purchased a new position in shares of Oaktree Specialty Lending in the 4th quarter worth about $106,000. Finally, EMC Capital Management grew its position in Oaktree Specialty Lending by 53.2% during the fourth quarter. EMC Capital Management now owns 8,714 shares of the credit services provider’s stock valued at $133,000 after buying an additional 3,026 shares during the period. 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.