Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.10 and traded as high as $12.61. Oaktree Specialty Lending shares last traded at $12.46, with a volume of 327,551 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a research report on Tuesday, August 25th. Weiss Ratings raised shares of Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Finally, B. Riley Financial reiterated a "neutral" rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.83.
Get Our Latest Analysis on OCSL
Oaktree Specialty Lending Price Performance
The stock has a market capitalization of $1.10 billion, a P/E ratio of 25.96 and a beta of 0.50. The business's 50 day simple moving average is $12.56 and its two-hundred day simple moving average is $12.10. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.68.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. The company had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. As a group, sell-side analysts forecast that Oaktree Specialty Lending Corp. will post 1.51 earnings per share for the current fiscal year.
Oaktree Specialty Lending Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Oaktree Specialty Lending's payout ratio is currently 250.00%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Private Management Group Inc. grew its holdings in Oaktree Specialty Lending by 4.0% during the second quarter. Private Management Group Inc. now owns 3,869,484 shares of the credit services provider's stock worth $46,202,000 after buying an additional 147,990 shares in the last quarter. Bruni J V & Co. Co. raised its position in Oaktree Specialty Lending by 0.3% in the 4th quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider's stock valued at $31,795,000 after buying an additional 8,691 shares during the last quarter. Van ECK Associates Corp lifted its stake in Oaktree Specialty Lending by 28.9% during the 2nd quarter. Van ECK Associates Corp now owns 2,195,651 shares of the credit services provider's stock valued at $26,216,000 after acquiring an additional 492,070 shares in the last quarter. Rivernorth Capital Management LLC lifted its stake in Oaktree Specialty Lending by 1.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,279,906 shares of the credit services provider's stock valued at $14,463,000 after acquiring an additional 12,208 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Oaktree Specialty Lending during the 2nd quarter worth $8,980,000. Institutional investors own 36.79% of the company's stock.
About Oaktree Specialty Lending
(
Get Free Report)
Oaktree Specialty Lending Corporation NASDAQ: OCSL is a business development company that provides financing to middle-market companies. The company seeks to generate current income and capital appreciation by investing in privately negotiated debt and equity securities, with an emphasis on credit opportunities that may be underserved by traditional lenders.
OCSL primarily invests in first-lien and second-lien loans, subordinated debt, and, to a lesser extent, equity investments. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses in the United States.
Further Reading
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