Keefe, Bruyette & Woods Cuts Oaktree Specialty Lending (NASDAQ:OCSL) Price Target to $17.00

Oaktree Specialty Lending (NASDAQ:OCSL) had its target price trimmed by Keefe, Bruyette & Woods from $18.00 to $17.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the credit services provider’s stock.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company reduced their target price 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. B. Riley decreased their target price on shares of Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday. JMP Securities cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Oaktree Specialty Lending currently has an average rating of “Hold” and a consensus price target of $16.75.

Oaktree Specialty Lending Price Performance

NASDAQ OCSL opened at $15.85 on Wednesday. The company has a market cap of $1.30 billion, a PE ratio of 22.01 and a beta of 1.09. The firm’s 50-day simple moving average is $16.15 and its two-hundred day simple moving average is $17.45. Oaktree Specialty Lending has a 52 week low of $15.40 and a 52 week high of $21.64. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61.

Oaktree Specialty Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a yield of 13.88%. Oaktree Specialty Lending’s payout ratio is 305.56%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC bought a new stake in shares of Oaktree Specialty Lending in the 1st quarter worth approximately $210,000. Advisors Asset Management Inc. lifted its stake in Oaktree Specialty Lending by 5.3% in the first quarter. Advisors Asset Management Inc. now owns 221,235 shares of the credit services provider’s stock worth $4,349,000 after purchasing an additional 11,211 shares during the last quarter. Gabelli Funds LLC boosted its position in Oaktree Specialty Lending by 3.2% during the first quarter. Gabelli Funds LLC now owns 168,375 shares of the credit services provider’s stock valued at $3,310,000 after buying an additional 5,155 shares during the period. Adalta Capital Management LLC increased its holdings in shares of Oaktree Specialty Lending by 165.8% in the first quarter. Adalta Capital Management LLC now owns 39,475 shares of the credit services provider’s stock worth $776,000 after buying an additional 24,625 shares during the period. Finally, Cetera Advisors LLC lifted its stake in shares of Oaktree Specialty Lending by 286.4% in the 1st quarter. Cetera Advisors LLC now owns 50,245 shares of the credit services provider’s stock valued at $988,000 after acquiring an additional 37,242 shares during the last quarter. 36.79% of the stock is currently owned by 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.