Oaktree Specialty Lending (NASDAQ:OCSL) Reaches New 12-Month Low – Should You Sell?

Oaktree Specialty Lending Co. (NASDAQ:OCSL) reached a new 52-week low during trading on Tuesday . The company traded as low as $15.40 and last traded at $15.52, with a volume of 270524 shares trading hands. The stock had previously closed at $16.15.

Analyst Ratings Changes

A number of analysts have recently commented on the company. B. Riley dropped their price objective on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reduced their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Price Performance

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 18.02 and a beta of 1.09. The company’s 50-day moving average is $16.18 and its 200-day moving average is $17.49.

Oaktree Specialty Lending Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 14.03%. The ex-dividend date of this dividend is Monday, December 16th. Oaktree Specialty Lending’s payout ratio is 252.87%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC increased its holdings in shares of Oaktree Specialty Lending by 4.8% during the third quarter. Cornerstone Wealth Management LLC now owns 15,852 shares of the credit services provider’s stock worth $259,000 after buying an additional 730 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in Oaktree Specialty Lending by 3.8% during the 3rd quarter. Integrated Advisors Network LLC now owns 22,826 shares of the credit services provider’s stock valued at $372,000 after purchasing an additional 826 shares in the last quarter. Apollon Wealth Management LLC raised its position in Oaktree Specialty Lending by 5.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 18,930 shares of the credit services provider’s stock valued at $309,000 after purchasing an additional 998 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Oaktree Specialty Lending by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 28,838 shares of the credit services provider’s stock worth $464,000 after acquiring an additional 1,030 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Oaktree Specialty Lending by 11.2% in the second quarter. ProShare Advisors LLC now owns 11,893 shares of the credit services provider’s stock valued at $224,000 after purchasing an additional 1,194 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.