Oaktree Specialty Lending (NASDAQ:OCSL) Reaches New 52-Week Low – Time to Sell?

Oaktree Specialty Lending Co. (NASDAQ:OCSL) shares hit a new 52-week low 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price target on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, November 20th. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Wells Fargo & Company cut their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer reissued a “market perform” rating and issued a $18.00 price target on shares of Oaktree Specialty Lending in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 price target (down previously from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Oaktree Specialty Lending currently has an average rating of “Hold” and a consensus price target of $16.75.

Oaktree Specialty Lending Trading Down 0.7 %

The stock has a market cap of $1.26 billion, a P/E ratio of 22.28 and a beta of 1.07. The stock’s 50-day moving average is $16.18 and its two-hundred day moving average is $17.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 14.30%. The ex-dividend date of this dividend is Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio is presently 305.56%.

Institutional Trading of Oaktree Specialty Lending

A number of large investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC purchased a new stake in Oaktree Specialty Lending during the third quarter valued at approximately $6,598,000. Barclays PLC boosted its position 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 buying an additional 2,140 shares during the period. Adalta Capital Management LLC grew its stake in 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 worth $736,000 after acquiring an additional 4,840 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Oaktree Specialty Lending during the third quarter worth approximately $508,000. Finally, MML Investors Services LLC bought a new stake in shares of Oaktree Specialty Lending during the third quarter valued at approximately $175,000. 36.79% of the stock is currently owned by institutional investors.

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.