Oaktree Specialty Lending Corp (NASDAQ:OCSL) has received an average rating of “Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.42.
Several equities research analysts recently commented on OCSL shares. Keefe, Bruyette & Woods boosted their price target on shares of Oaktree Specialty Lending from $4.50 to $4.75 and gave the stock an “outperform” rating in a report on Friday, May 8th. BidaskClub raised shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating in a report on Wednesday, August 12th. Deutsche Bank boosted their price target on shares of Oaktree Specialty Lending from $4.75 to $5.50 and gave the stock a “buy” rating in a report on Monday. TheStreet lowered shares of Oaktree Specialty Lending from a “c” rating to a “d+” rating in a report on Monday, May 11th. Finally, Janney Montgomery Scott raised shares of Oaktree Specialty Lending from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Friday, June 19th.
Shares of OCSL traded up $0.03 during trading hours on Friday, hitting $5.00. The stock had a trading volume of 4,103 shares, compared to its average volume of 604,543. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a 50-day moving average price of $4.60 and a 200 day moving average price of $4.41. Oaktree Specialty Lending has a fifty-two week low of $2.33 and a fifty-two week high of $5.65. The firm has a market capitalization of $704.80 million, a price-to-earnings ratio of -41.75 and a beta of 1.17.
Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Monday, August 10th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Oaktree Specialty Lending had a negative net margin of 13.00% and a positive return on equity of 7.30%. As a group, analysts predict that Oaktree Specialty Lending will post 0.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.105 per share. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 8.40%. Oaktree Specialty Lending’s dividend payout ratio is presently 79.17%.
In other Oaktree Specialty Lending news, CEO Armen Panossian bought 7,500 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average price of $4.55 per share, with a total value of $34,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $113,750. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 13,500 shares of company stock valued at $63,065 in the last ninety days. Insiders own 0.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in OCSL. Bank of New York Mellon Corp boosted its position in shares of Oaktree Specialty Lending by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 148,834 shares of the credit services provider’s stock valued at $813,000 after acquiring an additional 12,209 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Oaktree Specialty Lending by 117.4% during the 4th quarter. Bank of America Corp DE now owns 36,286 shares of the credit services provider’s stock valued at $199,000 after acquiring an additional 19,597 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Oaktree Specialty Lending during the 4th quarter valued at about $201,000. Arnhold LLC boosted its position in shares of Oaktree Specialty Lending by 78.3% during the 1st quarter. Arnhold LLC now owns 660,540 shares of the credit services provider’s stock valued at $2,140,000 after acquiring an additional 290,000 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its position in shares of Oaktree Specialty Lending by 31.4% during the 1st quarter. Centaurus Financial Inc. now owns 2,603,622 shares of the credit services provider’s stock valued at $8,436,000 after acquiring an additional 621,763 shares during the last quarter. 51.96% of the stock is currently owned by hedge funds and other institutional investors.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.
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