Janney Montgomery Scott LLC Reduces Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Janney Montgomery Scott LLC cut its stake in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 22.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,293 shares of the credit services provider’s stock after selling 8,667 shares during the period. Janney Montgomery Scott LLC’s holdings in Oaktree Specialty Lending were worth $463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Oaktree Specialty Lending by 7.3% in the third quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock worth $32,567,000 after purchasing an additional 137,508 shares during the last quarter. Bruni J V & Co. Co. boosted its stake in shares of Oaktree Specialty Lending by 1.3% during the third quarter. Bruni J V & Co. Co. now owns 1,531,250 shares of the credit services provider’s stock valued at $24,975,000 after purchasing an additional 19,790 shares during the period. Private Management Group Inc. boosted its stake in shares of Oaktree Specialty Lending by 91.5% during the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock valued at $22,958,000 after purchasing an additional 672,561 shares during the period. Pinnacle Associates Ltd. lifted its stake in Oaktree Specialty Lending by 7.5% in the third quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock worth $9,515,000 after acquiring an additional 40,641 shares during the period. Finally, 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 worth $6,664,000 after acquiring an additional 243,963 shares during the period. 36.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. B. Riley downgraded Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 price objective for the company. in a report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their price target on 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. Citizens Jmp downgraded Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $18.00 price objective on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Price Performance

NASDAQ OCSL opened at $15.48 on Monday. Oaktree Specialty Lending Co. has a one year low of $14.89 and a one year high of $20.43. The stock has a 50-day moving average of $15.59 and a 200 day moving average of $16.14. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 23.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.19 and a current ratio of 0.30.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $91.93 million. Oaktree Specialty Lending had a return on equity of 12.07% and a net margin of 14.75%. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, sell-side analysts forecast that Oaktree Specialty Lending Co. will post 2.07 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 10.34%. Oaktree Specialty Lending’s payout ratio is 328.36%.

Oaktree Specialty Lending Company Profile

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.