Short Interest in Oaktree Specialty Lending Corp (NASDAQ:OCSL) Decreases By 19.5%

Oaktree Specialty Lending Corp (NASDAQ:OCSL) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 247,000 shares, a decrease of 19.5% from the June 30th total of 306,800 shares. Based on an average trading volume of 375,500 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are short sold.

Several brokerages have weighed in on OCSL. National Securities reaffirmed a “buy” rating and issued a $7.00 target price on shares of Oaktree Specialty Lending in a research report on Monday, May 13th. Janney Montgomery Scott began coverage on Oaktree Specialty Lending in a research report on Monday, July 29th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $6.25.

In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 48,700 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.64, for a total value of $274,668.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Leonard M. Tannenbaum sold 178,945 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $5.68, for a total value of $1,016,407.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 910,712 shares of company stock worth $5,014,858. Corporate insiders own 0.16% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in shares of Oaktree Specialty Lending in the first quarter worth $28,000. Legacy Bridge LLC bought a new position in Oaktree Specialty Lending during the first quarter valued at about $28,000. Fox Run Management L.L.C. bought a new position in Oaktree Specialty Lending during the second quarter valued at about $58,000. Group One Trading L.P. boosted its stake in Oaktree Specialty Lending by 125.8% during the first quarter. Group One Trading L.P. now owns 12,025 shares of the credit services provider’s stock valued at $62,000 after buying an additional 6,700 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in Oaktree Specialty Lending during the second quarter valued at about $62,000. 47.62% of the stock is owned by institutional investors.

Shares of NASDAQ:OCSL traded up $0.11 on Tuesday, hitting $5.15. The company’s stock had a trading volume of 529,667 shares, compared to its average volume of 380,909. Oaktree Specialty Lending has a 12 month low of $4.08 and a 12 month high of $5.75. The firm has a market capitalization of $713.96 million, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 5.29 and a beta of 0.52. The company’s 50-day moving average price is $5.32. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.18.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Wednesday, August 7th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Oaktree Specialty Lending had a return on equity of 7.76% and a net margin of 96.11%. The company had revenue of $36.67 million during the quarter, compared to analysts’ expectations of $39.57 million. On average, equities research analysts expect that Oaktree Specialty Lending will post 0.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.38 annualized dividend and a dividend yield of 7.38%. Oaktree Specialty Lending’s payout ratio is 88.37%.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.

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