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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) has been assigned an average rating of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.75.

OCSL has been the subject of several research reports. JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. 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. Oppenheimer reiterated a “market perform” rating and issued a $18.00 target price on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lowered their target price on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Oaktree Specialty Lending

Hedge funds and other institutional investors have recently modified their holdings of the business. Rivernorth Capital Management LLC bought a new stake in Oaktree Specialty Lending during the third quarter worth $6,598,000. Barclays PLC increased its position in shares of Oaktree Specialty Lending by 2.1% during the 3rd quarter. Barclays PLC now owns 105,766 shares of the credit services provider’s stock valued at $1,725,000 after purchasing an additional 2,140 shares during the last quarter. Adalta Capital Management LLC raised its stake in shares of Oaktree Specialty Lending by 12.0% during the 3rd quarter. Adalta Capital Management LLC now owns 45,105 shares of the credit services provider’s stock worth $736,000 after purchasing an additional 4,840 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Oaktree Specialty Lending in the 3rd quarter worth about $508,000. Finally, MML Investors Services LLC bought a new position in Oaktree Specialty Lending during the third quarter valued at about $175,000. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Stock Up 0.3 %

Shares of NASDAQ OCSL opened at $15.26 on Monday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.26 billion, a PE ratio of 21.19 and a beta of 1.07. The company’s fifty day simple moving average is $15.93 and its 200 day simple moving average is $16.82. Oaktree Specialty Lending has a 12-month low of $14.95 and a 12-month high of $21.64.

Oaktree Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.20 annualized dividend and a yield of 14.42%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 305.56%.

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.