Oaktree Specialty Lending (NASDAQ:OCSL) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a hold rating to a sell rating in a report issued on Monday morning.

Several other brokerages also recently issued reports on OCSL. JMP Securities cut their price objective on Oaktree Specialty Lending from $21.00 to $20.00 and set a market outperform rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price objective on Oaktree Specialty Lending from $20.00 to $18.50 and set an overweight rating on the stock in a research report on Monday, July 29th. B. Riley decreased their price objective on Oaktree Specialty Lending from $18.50 to $17.00 and set a neutral rating on the stock in a research note on Friday. Wells Fargo & Company cut their target price on shares of Oaktree Specialty Lending from $19.00 to $18.00 and set an overweight rating for the company in a research note on Friday. Finally, Oppenheimer cut shares of Oaktree Specialty Lending from an outperform rating to a market perform rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Oaktree Specialty Lending currently has an average rating of Hold and a consensus target price of $18.42.

Oaktree Specialty Lending Price Performance

NASDAQ:OCSL traded up $0.40 during mid-day trading on Monday, hitting $16.12. 1,212,649 shares of the company’s stock traded hands, compared to its average volume of 681,252. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market cap of $1.31 billion, a PE ratio of 12.03 and a beta of 1.09. The firm’s 50 day simple moving average is $18.66 and its 200 day simple moving average is $19.35. Oaktree Specialty Lending has a 1 year low of $15.56 and a 1 year high of $21.64.

Oaktree Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.20 annualized dividend and a dividend yield of 13.65%. Oaktree Specialty Lending’s payout ratio is currently 164.18%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of institutional investors have recently bought and sold shares of OCSL. Cape Investment Advisory Inc. purchased a new stake in shares of Oaktree Specialty Lending during the 4th quarter valued at $39,000. Security National Bank acquired a new stake in Oaktree Specialty Lending during the second quarter worth about $42,000. Bfsg LLC acquired a new stake in Oaktree Specialty Lending during the fourth quarter worth about $71,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Oaktree Specialty Lending in the 1st quarter worth about $142,000. Finally, Financial Strategies Group Inc. acquired a new position in shares of Oaktree Specialty Lending in the 1st quarter valued at about $197,000. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

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.