Oaktree Specialty Lending (NASDAQ:OCSL) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a sell rating to a hold rating in a report issued on Monday morning.

Several other equities research analysts have also issued reports on OCSL. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a research note on Wednesday, May 6th. B. Riley Financial reiterated a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Finally, Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.83.

Oaktree Specialty Lending Stock Performance

NASDAQ OCSL opened at $12.85 on Monday. Oaktree Specialty Lending has a 52-week low of $10.63 and a 52-week high of $14.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $1.13 billion, a P/E ratio of 26.77 and a beta of 0.49. The company has a fifty day moving average of $12.05 and a 200-day moving average of $11.95.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Wednesday, August 5th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $69.15 million during the quarter, compared to analyst estimates of $69.40 million. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. As a group, equities research analysts predict that Oaktree Specialty Lending will post 1.51 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.9%. Oaktree Specialty Lending’s dividend payout ratio is 250.00%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Large investors have recently added to or reduced their stakes in the business. Equitable Holdings Inc. bought a new stake in Oaktree Specialty Lending in the second quarter worth $506,000. Centaurus Financial Inc. purchased a new stake in Oaktree Specialty Lending during the second quarter valued at about $1,900,000. Melia Wealth LLC bought a new position in shares of Oaktree Specialty Lending during the second quarter valued at about $8,707,000. Corient Private Wealth LP bought a new position in shares of Oaktree Specialty Lending during the second quarter valued at about $264,000. Finally, Bank of America Corp DE purchased a new position in shares of Oaktree Specialty Lending in the second quarter worth about $1,794,000. Hedge funds and other 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.