Oaktree Specialty Lending (NASDAQ:OCSL) Reaches New 12-Month Low After Analyst Downgrade

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) shares hit a new 52-week low during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $13.50 to $10.50. JPMorgan Chase & Co. currently has a neutral rating on the stock. Oaktree Specialty Lending traded as low as $11.09 and last traded at $11.1550, with a volume of 246784 shares trading hands. The stock had previously closed at $11.21.

Several other analysts also recently commented on the stock. Zacks Research downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Wells Fargo & Company lowered their price target on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Weiss Ratings downgraded shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 9th. Wall Street Zen upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Lucid Cap Mkts raised Oaktree Specialty Lending to a “hold” rating in a research report on Monday, December 15th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Oaktree Specialty Lending presently has an average rating of “Reduce” and a consensus price target of $12.88.

Hedge Funds Weigh In On Oaktree Specialty Lending

A number of hedge funds have recently bought and sold shares of OCSL. Generali Asset Management SPA SGR grew its position in shares of Oaktree Specialty Lending by 10.6% during the 3rd quarter. Generali Asset Management SPA SGR now owns 2,087,981 shares of the credit services provider’s stock worth $27,248,000 after purchasing an additional 199,415 shares in the last quarter. Bruni J V & Co. Co. raised its position in shares of Oaktree Specialty Lending by 12.4% in the third quarter. Bruni J V & Co. Co. now owns 2,487,019 shares of the credit services provider’s stock valued at $32,456,000 after buying an additional 274,667 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Oaktree Specialty Lending by 102.6% in the third quarter. HighTower Advisors LLC now owns 267,909 shares of the credit services provider’s stock valued at $3,496,000 after buying an additional 135,662 shares in the last quarter. Melia Wealth LLC boosted its stake in shares of Oaktree Specialty Lending by 22.8% in the third quarter. Melia Wealth LLC now owns 1,215,842 shares of the credit services provider’s stock valued at $15,867,000 after buying an additional 225,384 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Oaktree Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,173,257 shares of the credit services provider’s stock valued at $28,361,000 after buying an additional 134,557 shares during the period. 36.79% of the stock is owned by institutional investors.

Oaktree Specialty Lending Stock Down 1.0%

The stock has a 50-day moving average of $12.17 and a 200-day moving average of $12.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $977.80 million, a price-to-earnings ratio of 30.83 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $74.48 million during the quarter, compared to analysts’ expectations of $75.72 million. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.During the same period in the previous year, the firm earned $0.54 EPS. Sell-side analysts predict that Oaktree Specialty Lending Corp. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 14.4%. The ex-dividend date of this dividend is Monday, March 16th. Oaktree Specialty Lending’s payout ratio is 444.44%.

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.