Oaktree Specialty Lending Corp (NASDAQ:OCSL) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 694,719 shares, a drop of 26.8% from the February 15th total of 949,482 shares. Based on an average daily trading volume, of 558,188 shares, the short-interest ratio is currently 1.2 days.
In other news, Director Marc Gamsin bought 35,000 shares of the stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $4.39 per share, with a total value of $153,650.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. River Road Asset Management LLC acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at $31,142,000. Muzinich & Co. Inc. acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at $16,681,000. Hilton Capital Management LLC acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at $13,128,000. Bank of Montreal Can acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at $9,281,000. Finally, Senvest Management LLC acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at $8,648,000. 42.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. JPMorgan Chase upgraded shares of Oaktree Specialty Lending from a “neutral” rating to an “overweight” rating and set a $6.00 target price for the company in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods set a $5.00 price objective on shares of Oaktree Specialty Lending and gave the company a “hold” rating in a research report on Friday, February 9th. BMO Capital Markets cut their price objective on shares of Oaktree Specialty Lending from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. Maxim Group reissued a “hold” rating on shares of Oaktree Specialty Lending in a research report on Tuesday, December 26th. Finally, National Securities reissued a “neutral” rating and issued a $5.00 price objective on shares of Oaktree Specialty Lending in a research report on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $5.57.
Shares of NASDAQ OCSL remained flat at $$4.34 during trading on Friday. 502,512 shares of the stock were exchanged, compared to its average volume of 410,228. Oaktree Specialty Lending has a twelve month low of $3.90 and a twelve month high of $5.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $611.77, a PE ratio of 8.51, a P/E/G ratio of 5.92 and a beta of 0.13.
Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Thursday, February 8th. The credit services provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $33.88 million for the quarter, compared to analyst estimates of $35.00 million. Oaktree Specialty Lending had a positive return on equity of 6.74% and a negative net margin of 95.68%. equities analysts forecast that Oaktree Specialty Lending will post 0.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were issued a $0.085 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.34 annualized dividend and a yield of 7.83%. Oaktree Specialty Lending’s dividend payout ratio is presently 66.67%.
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About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is focused on providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company provides companies with flexible financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity.
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