Oaktree Specialty Lending Co. (NASDAQ:OCSL - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,450,000 shares, a growth of 124.1% from the February 28th total of 646,900 shares. Based on an average daily volume of 858,300 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.8% of the shares of the stock are sold short.
Institutional Investors Weigh In On Oaktree Specialty Lending
Several large investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. bought a new stake in shares of Oaktree Specialty Lending during the fourth quarter valued at approximately $18,109,000. Invesco Ltd. raised its position in Oaktree Specialty Lending by 1,300.1% during the 4th quarter. Invesco Ltd. now owns 875,913 shares of the credit services provider's stock valued at $13,384,000 after purchasing an additional 813,352 shares in the last quarter. Private Management Group Inc. raised its position in Oaktree Specialty Lending by 51.3% during the 4th quarter. Private Management Group Inc. now owns 2,129,202 shares of the credit services provider's stock valued at $32,534,000 after purchasing an additional 721,629 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth $9,959,000. Finally, Generali Asset Management SPA SGR bought a new position in shares of Oaktree Specialty Lending during the 4th quarter worth $8,225,000. 36.79% of the stock is owned by hedge funds and other institutional investors.
Oaktree Specialty Lending Trading Down 0.7 %
Shares of NASDAQ:OCSL traded down $0.12 during trading hours on Monday, hitting $15.39. 580,528 shares of the company's stock traded hands, compared to its average volume of 711,191. The firm has a market capitalization of $1.27 billion, a P/E ratio of 22.97 and a beta of 1.05. The business has a fifty day moving average price of $15.78 and a 200-day moving average price of $15.87. Oaktree Specialty Lending has a 1 year low of $14.89 and a 1 year high of $19.95. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.30 and a quick ratio of 0.30.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.54. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The company had revenue of $86.65 million during the quarter, compared to analysts' expectations of $91.93 million. During the same quarter in the previous year, the business earned $0.57 EPS. Oaktree Specialty Lending's revenue was down 11.6% compared to the same quarter last year. Equities analysts expect that Oaktree Specialty Lending will post 2.06 earnings per share for the current year.
Oaktree Specialty Lending Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 10.40%. The ex-dividend date of this dividend is Monday, March 17th. Oaktree Specialty Lending's dividend payout ratio is presently 238.81%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. B. Riley cut shares of Oaktree Specialty Lending from a "neutral" rating to a "sell" rating and set a $15.00 target price on the stock. in a research report on Wednesday, December 11th. StockNews.com raised Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.75.
Read Our Latest Stock Report on Oaktree Specialty Lending
About Oaktree Specialty Lending
(
Get Free Report)
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.
See Also
Before you consider Oaktree Specialty Lending, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Oaktree Specialty Lending wasn't on the list.
While Oaktree Specialty Lending currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
