Oaktree Specialty Lending (NASDAQ:OCSL) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on OCSL. Weiss Ratings downgraded shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company decreased their price target on Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Finally, Lucid Cap Mkts raised shares of Oaktree Specialty Lending to a “hold” rating in a research report on Monday, December 15th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Oaktree Specialty Lending currently has an average rating of “Reduce” and a consensus target price of $13.75.

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock traded up $0.02 on Monday, hitting $12.34. The stock had a trading volume of 168,460 shares, compared to its average volume of 714,638. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 34.20 and a beta of 0.52. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.66. Oaktree Specialty Lending has a twelve month low of $11.94 and a twelve month high of $16.29. The business’s 50 day moving average is $12.84 and its two-hundred day moving average is $13.28.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Wednesday, February 4th. The credit services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.The firm had revenue of $74.48 million for the quarter, compared to analyst estimates of $75.72 million. During the same period in the prior year, the firm posted $0.54 EPS. Analysts forecast that Oaktree Specialty Lending will post 2.06 EPS for the current year.

Oaktree Specialty Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 13.0%. The ex-dividend date is Monday, March 16th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 444.44%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several large investors have recently modified their holdings of the business. MTM Investment Management LLC acquired a new stake in Oaktree Specialty Lending in the second quarter valued at $34,000. Garner Asset Management Corp bought a new position in shares of Oaktree Specialty Lending during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Oaktree Specialty Lending during the fourth quarter worth about $42,000. Sound Income Strategies LLC acquired a new position in shares of Oaktree Specialty Lending in the third quarter worth approximately $42,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in Oaktree Specialty Lending in the second quarter valued at approximately $46,000. Institutional investors own 36.79% of the company’s stock.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.