Oaktree Specialty Lending (NASDAQ:OCSL) Hits New 52-Week Low - What's Next?

Oaktree Specialty Lending Co. (NASDAQ:OCSL - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.50 and last traded at $13.90, with a volume of 1338632 shares trading hands. The stock had previously closed at $12.94.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded shares of Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.42.

Oaktree Specialty Lending Stock Up 1.7 %

The stock has a market cap of $1.16 billion, a PE ratio of 21.03 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $15.35 and a 200 day moving average of $15.69.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.54 EPS for the quarter, meeting analysts' consensus estimates of $0.54. The business had revenue of $86.65 million for the quarter, compared to the consensus estimate of $91.93 million. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The business's revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. On average, equities research analysts anticipate that Oaktree Specialty Lending Co. will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.36%. The ex-dividend date was Monday, March 17th. Oaktree Specialty Lending's payout ratio is 238.81%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of institutional investors and hedge funds have recently bought and sold shares of OCSL. Private Management Group Inc. raised its position in Oaktree Specialty Lending by 51.3% in 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 during the last quarter. Van ECK Associates Corp increased its stake in Oaktree Specialty Lending by 3.5% in the fourth quarter. Van ECK Associates Corp now owns 2,094,609 shares of the credit services provider's stock valued at $32,006,000 after purchasing an additional 71,808 shares during the period. Bruni J V & Co. Co. increased its stake in Oaktree Specialty Lending by 26.0% in the fourth quarter. Bruni J V & Co. Co. now owns 1,929,491 shares of the credit services provider's stock valued at $29,483,000 after purchasing an additional 398,241 shares during the period. Claret Asset Management Corp raised its holdings in shares of Oaktree Specialty Lending by 0.9% in the fourth quarter. Claret Asset Management Corp now owns 1,495,190 shares of the credit services provider's stock valued at $22,846,000 after buying an additional 13,949 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Oaktree Specialty Lending during the fourth quarter worth about $18,109,000. 36.79% of the stock is owned by hedge funds and other institutional investors.

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.