Oaktree Specialty Lending Co. (NASDAQ:OCSL) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) have earned a consensus recommendation of “Reduce” from the seven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.75.

A number of equities analysts recently issued reports on the company. Citizens Jmp cut Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price target (down previously from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Oppenheimer restated a “market perform” rating and set a $18.00 price objective on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, November 20th. Finally, JMP Securities lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th.

Oaktree Specialty Lending Stock Performance

Shares of NASDAQ:OCSL opened at $15.18 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.08 and a beta of 1.07. Oaktree Specialty Lending has a 1-year low of $15.04 and a 1-year high of $21.64. The company has a 50 day moving average price of $16.07 and a 200 day moving average price of $16.97.

Oaktree Specialty Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.55 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.49%. Oaktree Specialty Lending’s dividend payout ratio is 305.56%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCSL. Private Management Group Inc. raised its stake in shares of Oaktree Specialty Lending by 91.5% during the 3rd quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock worth $22,958,000 after purchasing an additional 672,561 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in Oaktree Specialty Lending in the third quarter worth approximately $6,598,000. Van ECK Associates Corp raised its position in Oaktree Specialty Lending by 21.0% during the second quarter. Van ECK Associates Corp now owns 1,885,293 shares of the credit services provider’s stock valued at $35,463,000 after acquiring an additional 327,416 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Oaktree Specialty Lending by 148.2% in the third quarter. Harbor Capital Advisors Inc. now owns 408,612 shares of the credit services provider’s stock valued at $6,664,000 after acquiring an additional 243,963 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new stake in Oaktree Specialty Lending in the second quarter valued at approximately $4,243,000. Hedge funds and other institutional investors own 36.79% of the company’s stock.

About Oaktree Specialty Lending

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.