Oaktree Specialty Lending (NASDAQ:OCSL) Sets New 52-Week Low – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OCSL shares. B. Riley cut their price objective on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upgraded Oaktree Specialty Lending to a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. Finally, StockNews.com downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Oaktree Specialty Lending Price Performance

The company has a 50-day moving average of $16.21 and a 200-day moving average of $17.52. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 18.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its stake in Oaktree Specialty Lending by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 164,649 shares of the credit services provider’s stock worth $3,097,000 after buying an additional 120,553 shares during the period. Cetera Advisors LLC increased its holdings in Oaktree Specialty Lending by 286.4% in the 1st quarter. Cetera Advisors LLC now owns 50,245 shares of the credit services provider’s stock valued at $988,000 after purchasing an additional 37,242 shares in the last quarter. Confluence Investment Management LLC increased its holdings in Oaktree Specialty Lending by 220.5% in the 2nd quarter. Confluence Investment Management LLC now owns 120,283 shares of the credit services provider’s stock valued at $2,263,000 after purchasing an additional 82,751 shares in the last quarter. TMD Wealth Management LLC raised its position in Oaktree Specialty Lending by 16.0% in the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock valued at $10,679,000 after purchasing an additional 78,404 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Oaktree Specialty Lending by 91.5% during the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock worth $22,958,000 after purchasing an additional 672,561 shares in the last quarter. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

About Oaktree Specialty Lending

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.