Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Receives $12.38 Average PT from Analysts

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) has received a consensus rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.8333.

A number of research analysts have commented on OCSL shares. Oppenheimer set a $13.00 target price on Oaktree Specialty Lending in a report on Wednesday, May 6th. Zacks Research raised Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Wall Street Zen upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Wells Fargo & Company dropped their price target on Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th.

Insider Buying and Selling at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $10.77 per share, for a total transaction of $26,925.00. Following the transaction, the director owned 23,500 shares of the company’s stock, valued at $253,095. This trade represents a 11.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Trading of Oaktree Specialty Lending

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in Oaktree Specialty Lending by 118.3% in the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 1,707 shares during the period. Garner Asset Management Corp acquired a new stake in Oaktree Specialty Lending in the 4th quarter valued at approximately $38,000. Fifth Third Bancorp acquired a new stake in Oaktree Specialty Lending in the 1st quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Oaktree Specialty Lending in the 4th quarter valued at approximately $42,000. Finally, State of Alaska Department of Revenue acquired a new stake in Oaktree Specialty Lending in the 3rd quarter valued at approximately $51,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Oaktree Specialty Lending Trading Up 0.7%

Shares of OCSL opened at $12.09 on Friday. The company has a market capitalization of $1.07 billion, a P/E ratio of 21.21 and a beta of 0.52. Oaktree Specialty Lending has a one year low of $10.63 and a one year high of $14.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50-day moving average price of $11.84 and a 200 day moving average price of $12.53.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.The company had revenue of $69.74 million for the quarter, compared to the consensus estimate of $74.35 million. During the same quarter last year, the business posted $0.45 EPS. Sell-side analysts forecast that Oaktree Specialty Lending will post 1.5 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Monday, June 15th. Oaktree Specialty Lending’s dividend payout ratio is presently 280.70%.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.