Oaktree Specialty Lending (NASDAQ:OCSL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.03 and traded as high as $12.45. Oaktree Specialty Lending shares last traded at $12.43, with a volume of 410,214 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OCSL. Wall Street Zen lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Zacks Research raised shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Oaktree Specialty Lending in a research note on Monday. Finally, Oppenheimer set a $13.00 target price on shares of Oaktree Specialty Lending in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.83.

Oaktree Specialty Lending Trading Up 1.1%

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 21.81 and a beta of 0.49. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average price of $11.92 and a 200-day moving average price of $12.03.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.The business had revenue of $69.74 million during the quarter, compared to analysts’ expectations of $74.35 million. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities research analysts predict that Oaktree Specialty Lending Corp. will post 1.5 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend was Monday, June 15th. Oaktree Specialty Lending’s payout ratio is currently 210.53%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. raised its holdings in shares of Oaktree Specialty Lending by 298.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider’s stock valued at $8,556,000 after purchasing an additional 469,328 shares in the last quarter. UBS Group AG lifted its stake in shares of Oaktree Specialty Lending by 47.5% in the 4th quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider’s stock valued at $16,991,000 after purchasing an additional 429,303 shares during the last quarter. Summit Securities Group LLC bought a new stake in Oaktree Specialty Lending in the fourth quarter worth $4,841,000. Two Sigma Investments LP boosted its holdings in Oaktree Specialty Lending by 221.2% in the third quarter. Two Sigma Investments LP now owns 388,157 shares of the credit services provider’s stock worth $5,065,000 after purchasing an additional 267,318 shares in the last quarter. Finally, Private Management Group Inc. increased its position in Oaktree Specialty Lending by 8.1% during the fourth quarter. Private Management Group Inc. now owns 3,259,370 shares of the credit services provider’s stock worth $41,524,000 after buying an additional 245,207 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

Oaktree Specialty Lending Company Profile

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.