Oaktree Specialty Lending Co. (NASDAQ: OCSL) Update on Short-Term Interest
Oaktree Specialty Lending Co. (NASDAQ: OCSL) was the target of a significant increase in short-term interest during the month of November. As of November 30, there was short interest totaling 1,630,000 shares, an increase of 18.1% from the total of 1,380,000 shares as of November 15. About 1.0% of the company’s shares are sold short. Based on an average daily trading volume of 740,200 shares, the short-term interest ratio is currently 2.2 days.
A number of equity analysts have recently commented on OCSL stocks. JMP Securities raised its price target on Oaktree Specialty Lending from $ 8.00 to $ 8.50 and rated the stock as “outperforming the market” in a report released on Wednesday, November 17. Zacks Investment Research upgraded Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a price target of $ 8.25 for the company in a research report released on Saturday. Four equity research analysts rated the stock with a buy rating. According to MarketBeat, Oaktree Specialty Lending currently has an average “Buy” rating and an average target price of $ 7.88.
OCSL traded down $ 0.09 during Monday’s midday session, reaching $ 7.25. 8,328 shares of the company were traded, for an average volume of 805,676. Oaktree Specialty Lending has a one-year low of $ 5.44 and a one-year high of $ 7.62. The company has a debt to equity ratio of 0.49, a quick ratio of 0.09, and a current ratio of 0.09. The stock has a market cap of $ 1.31 billion, a P / E ratio of 4.83, a PEG ratio of 0.93 and a beta of 1.40. The stock’s 50-day simple moving average is $ 7.39 and its 200-day simple moving average is $ 7.13.
Oaktree Specialty Lending (NASDAQ: OCSL) last reported its results on Tuesday, November 16. The credit services provider reported earnings per share (EPS) of $ 0.16 for the quarter, beating Zacks’ consensus estimate of $ 0.15 by $ 0.01. Oaktree Specialty Lending reported a return on equity of 8.51% and a net margin of 113.31%. During the same period last year, the company posted $ 0.17 in EPS. On average, research analysts forecast Oaktree Specialty Lending to post 0.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 31. Shareholders of record on Wednesday, December 15 will receive a dividend of $ 0.155 per share. This represents a dividend of $ 0.62 on an annualized basis and a dividend yield of 8.55%. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $ 0.15. The ex-dividend date for this dividend is Tuesday, December 14. Oaktree Specialty Lending’s dividend payout ratio is currently 40.79%.
Meanwhile, main shareholder Leonard M. Tannenbaum sold 48,173 shares of the company in a transaction dated Wednesday, November 10. The shares were sold at an average price of $ 7.50, for a total trade of $ 361,297.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In addition, main shareholder Leonard M. Tannenbaum sold 17,330 shares of the company in a transaction dated Tuesday, November 16. The stock was sold for an average price of $ 7.45, for a total trade of $ 129,108.50. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 204,703 shares of the company valued at $ 1,537,111. Insiders own 0.19% of the shares of the company.
Several institutional investors have recently bought and sold shares in the company. River Road Asset Management LLC increased its stake in Oaktree Specialty Lending shares by 6.6% in the second quarter. River Road Asset Management LLC now owns 6,829,437 shares of the credit service provider valued at $ 45,689,000 after purchasing an additional 420,200 shares during the period. Ares Management LLC increased its stake in Oaktree Specialty Lending shares by 12.1% in the third quarter. Ares Management LLC now owns 5,096,419 shares of the credit service provider valued at $ 35,981,000 after purchasing an additional 549,497 shares during the period. Oaktree Capital Management LP strengthened its position in Oaktree Specialty Lending shares by 1,526.9% during the 3rd quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit services provider valued at $ 31,701,000 after purchasing an additional 4,214,368 shares in the last quarter. LSV Asset Management strengthened its position in Oaktree Specialty Lending shares by 5.5% during the 2nd quarter. LSV Asset Management now owns 3,070,180 shares of the credit service provider valued at $ 20,539,000 after purchasing an additional 161,100 shares in the last quarter. Finally, CLARET ASSET MANAGEMENT Corp strengthened its position in Oaktree Specialty Lending shares by 16.1% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp. now owns 2,845,675 shares of the credit service provider valued at $ 20,090,000 after purchasing an additional 393,827 shares in the last quarter. 68.71% of the capital is held by institutional investors.
About Oaktree Specialty Loans
Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to growing private, small and medium-sized businesses. While fostering growth is our primary mission, a singular goal guides all of our partnering activities for success.
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