Oaktree Specialty Lending (NASDAQ:OCSL) Shares Gap Down to $16.54

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $16.54, but opened at $16.07. Oaktree Specialty Lending shares last traded at $15.96, with a volume of 60,089 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Oppenheimer cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $20.00 to $18.00 in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised Oaktree Specialty Lending to a “hold” rating in a research note on Friday, August 2nd. B. Riley reduced their price target on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, JMP Securities cut their price objective on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.25.

Oaktree Specialty Lending Trading Up 1.1 %

The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. The company has a 50 day moving average price of $17.17 and a 200 day moving average price of $18.57.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Thursday, August 1st. The credit services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. The company had revenue of $94.97 million during the quarter, compared to analyst estimates of $99.35 million. On average, research analysts expect that Oaktree Specialty Lending Co. will post 2.24 earnings per share for the current year.

Oaktree Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.66%. Oaktree Specialty Lending’s payout ratio is currently 164.18%.

Institutional Trading of Oaktree Specialty Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of Oaktree Specialty Lending by 11.2% in the second quarter. ProShare Advisors LLC now owns 11,893 shares of the credit services provider’s stock valued at $224,000 after buying an additional 1,194 shares in the last quarter. Truist Financial Corp grew its position in Oaktree Specialty Lending by 6.2% in the 2nd quarter. Truist Financial Corp now owns 22,357 shares of the credit services provider’s stock valued at $421,000 after acquiring an additional 1,303 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Oaktree Specialty Lending by 0.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 232,244 shares of the credit services provider’s stock worth $4,566,000 after purchasing an additional 1,726 shares during the period. Sunbelt Securities Inc. increased its stake in Oaktree Specialty Lending by 37.0% during the second quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock worth $127,000 after purchasing an additional 1,820 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Oaktree Specialty Lending by 11.2% during the fourth quarter. Parallel Advisors LLC now owns 18,050 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 1,825 shares in the last quarter. Hedge funds and other institutional investors own 36.79% of the company’s stock.

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.