StockNews.com Upgrades Oaktree Specialty Lending (NASDAQ:OCSL) to “Hold”

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

OCSL has been the topic of several other reports. 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 research report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 price objective (down previously from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of 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. Oppenheimer lowered 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, August 2nd. Finally, JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Price Performance

Shares of OCSL opened at $15.85 on Wednesday. The stock’s 50 day moving average is $16.15 and its two-hundred day moving average is $17.44. Oaktree Specialty Lending has a twelve month low of $15.40 and a twelve month high of $21.64. The firm has a market capitalization of $1.30 billion, a PE ratio of 22.01 and a beta of 1.09. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 0.62.

Oaktree Specialty Lending Dividend Announcement

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

Institutional Trading of Oaktree Specialty Lending

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. increased its position in 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. Van ECK Associates Corp grew its holdings in shares of 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 worth $35,463,000 after buying an additional 327,416 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Oaktree Specialty Lending by 148.2% during 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 buying an additional 243,963 shares during the period. TrueMark Investments LLC purchased a new position in shares of Oaktree Specialty Lending during the second quarter valued at approximately $4,243,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in Oaktree Specialty Lending during the third quarter worth approximately $2,849,000. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

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.