Wall Street Zen upgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL – Free Report) from a sell rating to a hold rating in a research report released on Monday.
Several other analysts have also recently issued reports on the company. Weiss Ratings upgraded Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Oppenheimer set a $13.00 target price on Oaktree Specialty Lending in a research report on Wednesday, May 6th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Six analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.83.
Get Our Latest Analysis on OCSL
Oaktree Specialty Lending Price Performance
Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last issued its earnings results on Wednesday, August 5th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $69.15 million for 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%. Equities analysts expect that Oaktree Specialty Lending will post 1.51 EPS for the current fiscal year.
Oaktree Specialty Lending Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. Oaktree Specialty Lending’s payout ratio is 250.00%.
Hedge Funds Weigh In On Oaktree Specialty Lending
A number of hedge funds and other institutional investors have recently bought and sold shares of OCSL. International Assets Investment Management LLC grew 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 during the last quarter. Garner Asset Management Corp bought a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth approximately $38,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter worth approximately $40,000. Fifth Third Bancorp acquired a new position in Oaktree Specialty Lending during the 1st quarter valued at approximately $41,000. Finally, Allworth Financial LP acquired a new position in Oaktree Specialty Lending during the 2nd quarter valued at approximately $41,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.
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.
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