Oaktree Specialty Lending Co. (NASDAQ:OCSL) Short Interest Down 17.2% in May

Oaktree Specialty Lending Co. (NASDAQ:OCSL - Get Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 1,060,000 shares, a decrease of 17.2% from the April 30th total of 1,280,000 shares. Based on an average daily trading volume, of 843,800 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.2% of the company's shares are sold short.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OCSL. Wall Street Zen lowered shares of Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods reduced their price target on shares of Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, B. Riley began coverage on shares of Oaktree Specialty Lending in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.83.

Oaktree Specialty Lending Stock Up 0.2%

NASDAQ:OCSL traded up $0.03 during mid-day trading on Thursday, reaching $14.10. The stock had a trading volume of 753,818 shares, compared to its average volume of 755,326. The business's 50 day moving average is $14.15 and its 200 day moving average is $15.17. Oaktree Specialty Lending has a fifty-two week low of $12.50 and a fifty-two week high of $19.80. The stock has a market cap of $1.24 billion, a P/E ratio of 21.05 and a beta of 0.71. 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 released its quarterly earnings data on Thursday, May 1st. The credit services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.06). Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The firm had revenue of $70.52 million during the quarter, compared to analyst estimates of $84.67 million. During the same quarter in the prior year, the company posted $0.56 EPS. As a group, sell-side analysts predict that Oaktree Specialty Lending will post 2.06 earnings per share for the current year.

Oaktree Specialty Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.60 annualized dividend and a yield of 11.35%. Oaktree Specialty Lending's dividend payout ratio (DPR) is presently 1,230.77%.

Insider Buying and Selling at Oaktree Specialty Lending

In other news, insider Armen Panossian acquired 8,000 shares of Oaktree Specialty Lending stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $14.13 per share, with a total value of $113,040.00. Following the completion of the purchase, the insider now owns 20,789 shares of the company's stock, valued at $293,748.57. This represents a 62.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig A. Jacobson acquired 14,910 shares of Oaktree Specialty Lending stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $13.41 per share, with a total value of $199,943.10. Following the completion of the purchase, the director now directly owns 71,667 shares of the company's stock, valued at approximately $961,054.47. This represents a 26.27% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.28% of the company's stock.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westbourne Investments Inc. acquired a new position in Oaktree Specialty Lending during the first quarter valued at approximately $154,000. Anchor Investment Management LLC acquired a new position in Oaktree Specialty Lending during the first quarter valued at approximately $49,000. Arete Wealth Advisors LLC acquired a new position in Oaktree Specialty Lending during the first quarter valued at approximately $160,000. Caxton Associates LLP acquired a new position in Oaktree Specialty Lending during the first quarter valued at approximately $725,000. Finally, Sciencast Management LP acquired a new position in Oaktree Specialty Lending during the first quarter valued at approximately $174,000. Institutional investors and hedge funds 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.