Oaktree Specialty Lending (NASDAQ:OCSL) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

Oaktree Specialty Lending Trading Up 0.1%

Shares of OCSL stock opened at $13.06 on Thursday. Oaktree Specialty Lending has a fifty-two week low of $12.50 and a fifty-two week high of $16.66. The stock has a market cap of $1.15 billion, a P/E ratio of 23.32 and a beta of 0.67. The business has a fifty day simple moving average of $13.68 and a 200-day simple moving average of $14.09. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.63.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Tuesday, August 5th. The credit services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Oaktree Specialty Lending had a net margin of 13.84% and a return on equity of 10.94%. The firm had revenue of $75.27 million during the quarter, compared to analysts’ expectations of $79.14 million. During the same quarter in the prior year, the business earned $0.55 EPS. On average, analysts forecast that Oaktree Specialty Lending will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.3%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 285.71%.

Institutional Trading of Oaktree Specialty Lending

A number of large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its stake in shares of Oaktree Specialty Lending by 286.0% during the second quarter. Corient Private Wealth LLC now owns 42,918 shares of the credit services provider’s stock valued at $586,000 after acquiring an additional 31,800 shares during the last quarter. TT Capital Management LLC boosted its stake in shares of Oaktree Specialty Lending by 7.6% during the second quarter. TT Capital Management LLC now owns 104,643 shares of the credit services provider’s stock valued at $1,429,000 after acquiring an additional 7,363 shares during the last quarter. Marex Group plc acquired a new stake in Oaktree Specialty Lending in the 2nd quarter worth about $344,000. MRP Capital Investments LLC boosted its stake in Oaktree Specialty Lending by 8.3% in the 2nd quarter. MRP Capital Investments LLC now owns 11,578 shares of the credit services provider’s stock worth $158,000 after buying an additional 891 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Oaktree Specialty Lending by 1,025.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock worth $57,000 after buying an additional 3,793 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

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.