Oaktree Specialty Lending (NASDAQ:OCSL) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Oaktree Specialty Lending Corp. (NASDAQ:OCSL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.03 and traded as high as $12.45. Oaktree Specialty Lending shares last traded at $12.43, with a volume of 410,214 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Oppenheimer set a $13.00 price objective on shares of Oaktree Specialty Lending in a research note on Wednesday, May 6th. Zacks Research raised shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Oaktree Specialty Lending in a research report on Monday. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, Oaktree Specialty Lending presently has a consensus rating of “Hold” and a consensus price target of $11.83.

Oaktree Specialty Lending Price Performance

The company has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $12.03. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 21.32 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.17 and a current ratio of 0.17.

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

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date was Monday, June 15th. Oaktree Specialty Lending’s dividend payout ratio is presently 210.53%.

Institutional Trading of Oaktree Specialty Lending

A number of institutional investors and hedge funds have recently made changes to their positions in OCSL. Garner Asset Management Corp bought a new position in Oaktree Specialty Lending in the fourth quarter valued at approximately $38,000. International Assets Investment Management LLC lifted its stake in 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 worth $35,000 after purchasing an additional 1,707 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Oaktree Specialty Lending during the fourth quarter worth $42,000. Fifth Third Bancorp acquired a new stake in shares of Oaktree Specialty Lending in the 1st quarter valued at $41,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Oaktree Specialty Lending by 1,025.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after purchasing an additional 3,793 shares in the last quarter. Institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Company Profile

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.