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

Oaktree Specialty Lending Co. (NASDAQ:OCSL)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $15.24 and last traded at $15.46, with a volume of 254015 shares changing hands. The stock had previously closed at $15.49.

Analyst Ratings Changes

OCSL has been the topic of several research analyst reports. StockNews.com raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods cut their target price on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 20th. Citizens Jmp cut Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price objective (down from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Finally, Oppenheimer restated a “market perform” rating and issued a $18.00 price objective on shares of Oaktree Specialty Lending in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Trading Down 0.3 %

The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $16.14 and its 200-day moving average price is $17.05. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 21.29 and a beta of 1.07.

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 given a $0.55 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.20 annualized dividend and a dividend yield of 14.35%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 305.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC purchased a new position in shares of Oaktree Specialty Lending in the third quarter worth about $6,598,000. Barclays PLC boosted its holdings in Oaktree Specialty Lending by 2.1% in the 3rd quarter. Barclays PLC now owns 105,766 shares of the credit services provider’s stock valued at $1,725,000 after purchasing an additional 2,140 shares during the last quarter. Adalta Capital Management LLC grew its stake in shares of Oaktree Specialty Lending by 12.0% in the 3rd quarter. Adalta Capital Management LLC now owns 45,105 shares of the credit services provider’s stock valued at $736,000 after buying an additional 4,840 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Oaktree Specialty Lending during the 3rd quarter worth approximately $508,000. Finally, MML Investors Services LLC purchased a new stake in shares of Oaktree Specialty Lending during the 3rd quarter valued at approximately $175,000. 36.79% of the stock is 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.