Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Receives $15.83 Consensus PT from Analysts

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) have been assigned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $15.83.

A number of research firms have recently commented on OCSL. Wells Fargo & Company dropped their target price on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Wall Street Zen cut shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods dropped their price objective 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, April 8th. B. Riley initiated coverage on shares of Oaktree Specialty Lending in a research report on Tuesday, May 13th. They issued a “neutral” rating and a $14.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th.

Oaktree Specialty Lending Price Performance

NASDAQ OCSL opened at $13.56 on Friday. The business has a fifty day moving average price of $14.12 and a two-hundred day moving average price of $14.94. The stock has a market capitalization of $1.19 billion, a PE ratio of 104.31 and a beta of 0.70. Oaktree Specialty Lending has a fifty-two week low of $12.50 and a fifty-two week high of $19.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.23 and a quick ratio of 0.23.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). The business had revenue of $70.52 million for the quarter, compared to analyst estimates of $84.67 million. Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. During the same period last year, the firm posted $0.56 EPS. Equities analysts expect that Oaktree Specialty Lending will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.60 dividend on an annualized basis and a yield of 11.80%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 1,230.77%.

Insider Buying and Selling

In related news, insider Armen Panossian acquired 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average cost of $14.13 per share, for a total transaction of $113,040.00. Following the completion of the acquisition, the insider now directly owns 20,789 shares of the company’s stock, valued at approximately $293,748.57. This trade represents a 62.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig A. Jacobson bought 14,910 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $13.41 per share, for a total transaction of $199,943.10. Following the completion of the acquisition, the director now directly owns 71,667 shares in the company, valued at approximately $961,054.47. This trade represents a 26.27% increase in their position. The disclosure for this purchase can be found here. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Claret Asset Management Corp increased its position in Oaktree Specialty Lending by 0.9% during the 4th quarter. Claret Asset Management Corp now owns 1,495,190 shares of the credit services provider’s stock valued at $22,846,000 after purchasing an additional 13,949 shares during the period. ProShare Advisors LLC boosted its stake in shares of Oaktree Specialty Lending by 16.6% in the 4th quarter. ProShare Advisors LLC now owns 14,910 shares of the credit services provider’s stock valued at $228,000 after purchasing an additional 2,124 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Oaktree Specialty Lending during the fourth quarter worth $701,000. Northern Trust Corp increased its position in shares of Oaktree Specialty Lending by 31.0% during the fourth quarter. Northern Trust Corp now owns 57,539 shares of the credit services provider’s stock worth $879,000 after buying an additional 13,626 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Oaktree Specialty Lending by 102.7% during the fourth quarter. Corient Private Wealth LLC now owns 58,241 shares of the credit services provider’s stock worth $890,000 after buying an additional 29,502 shares during the last quarter. 36.79% of the stock is owned by institutional investors and hedge funds.

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.