Oaktree Specialty Lending (NASDAQ:OCSL) Shares Gap Down to $20.57

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $20.57, but opened at $20.12. Oaktree Specialty Lending shares last traded at $20.06, with a volume of 40,156 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OCSL shares. StockNews.com initiated coverage on shares of Oaktree Specialty Lending in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Hovde Group cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and set a $21.00 price target on the stock. in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Oaktree Specialty Lending presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.90.

Oaktree Specialty Lending Trading Down 3.1 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.12 and a quick ratio of 0.12. The business’s 50-day simple moving average is $19.99 and its 200-day simple moving average is $19.27. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 17.14 and a beta of 1.17.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Thursday, August 3rd. The credit services provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $101.06 million during the quarter, compared to analysts’ expectations of $102.71 million. Oaktree Specialty Lending had a net margin of 25.00% and a return on equity of 11.97%. The firm’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Research analysts predict that Oaktree Specialty Lending Co. will post 2.47 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend is Thursday, September 14th. Oaktree Specialty Lending’s payout ratio is 183.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HBK Sorce Advisory LLC boosted its position in shares of Oaktree Specialty Lending by 100.3% in the fourth quarter. HBK Sorce Advisory LLC now owns 21,232 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 10,631 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Oaktree Specialty Lending during the 4th quarter worth $39,000. Tucker Asset Management LLC purchased a new position in shares of Oaktree Specialty Lending in the 1st quarter worth $41,000. Newbridge Financial Services Group Inc. boosted its holdings in Oaktree Specialty Lending by 29.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,224 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 500 shares during the last quarter. Finally, Kistler Tiffany Companies LLC purchased a new stake in Oaktree Specialty Lending during the first quarter valued at about $48,000. 39.25% of the stock is currently owned by institutional investors and hedge funds.

About Oaktree Specialty Lending

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.