Analysts Set Oaktree Specialty Lending Corp. (NASDAQ:OCSL) PT at $11.83

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $11.8333.

Several analysts recently weighed in on the stock. Weiss Ratings raised shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Oppenheimer set a $13.00 target price on Oaktree Specialty Lending in a report on Wednesday, May 6th. Wall Street Zen downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. JPMorgan Chase & Co. reduced their price target on Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Zacks Research upgraded Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its position 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 worth $35,000 after buying an additional 1,707 shares during the period. Garner Asset Management Corp acquired a new position in Oaktree Specialty Lending in the fourth quarter valued at $38,000. Fifth Third Bancorp bought a new stake in Oaktree Specialty Lending during the first quarter valued at $41,000. Northwestern Mutual Wealth Management Co. bought a new stake in Oaktree Specialty Lending during the fourth quarter valued at $42,000. Finally, Tower Research Capital LLC TRC grew its holdings in Oaktree Specialty Lending by 1,025.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock worth $57,000 after acquiring an additional 3,793 shares during the period. Institutional investors and hedge funds own 36.79% of the company’s stock.

Oaktree Specialty Lending Stock Performance

Oaktree Specialty Lending stock opened at $12.20 on Monday. The business has a 50 day moving average of $11.98 and a 200-day moving average of $12.08. The company has a market capitalization of $1.07 billion, a P/E ratio of 21.40 and a beta of 0.49. Oaktree Specialty Lending has a 1 year low of $10.63 and a 1 year high of $14.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.17 and a quick ratio of 0.17.

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

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date of this dividend was Monday, June 15th. Oaktree Specialty Lending’s dividend payout ratio is currently 210.53%.

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.