Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Receives $11.83 Consensus Target Price from Analysts

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) have been assigned an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.8333.

OCSL has been the topic of a number of recent research reports. Zacks Research raised Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Wall Street Zen raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, March 13th.

Insider Activity

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell purchased 2,500 shares of the stock in a transaction dated Monday, March 16th. The shares were purchased at an average cost of $10.77 per share, with a total value of $26,925.00. Following the completion of the acquisition, the director directly owned 23,500 shares in the company, valued at $253,095. This trade represents a 11.90% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OCSL. International Assets Investment Management LLC lifted its holdings in shares of Oaktree Specialty Lending by 118.3% during the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 1,707 shares in the last quarter. Garner Asset Management Corp bought a new position in Oaktree Specialty Lending in the fourth quarter valued at about $38,000. Fifth Third Bancorp bought a new position in Oaktree Specialty Lending in the first quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. bought a new position in Oaktree Specialty Lending in the fourth quarter valued at about $42,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Oaktree Specialty Lending by 1,025.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 3,793 shares during the period. 36.79% of the stock is owned by institutional investors.

Oaktree Specialty Lending Trading Down 0.4%

NASDAQ OCSL opened at $11.87 on Thursday. Oaktree Specialty Lending has a 12 month low of $10.63 and a 12 month high of $14.77. The stock has a market cap of $1.05 billion, a P/E ratio of 20.82 and a beta of 0.50. The stock’s fifty day moving average price is $12.05 and its 200-day moving average price is $12.32. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.The firm had revenue of $69.74 million for the quarter, compared to analysts’ expectations of $74.35 million. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that Oaktree Specialty Lending will post 1.5 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, June 15th. Oaktree Specialty Lending’s dividend payout ratio is presently 280.70%.

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.