StockNews.com Lowers Oaktree Specialty Lending (NASDAQ:OCSL) to Sell

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

OCSL has been the subject of a number of other research reports. Oppenheimer lowered Oaktree Specialty Lending from an outperform rating to a market perform rating and lowered their price target for the company from $20.00 to $18.00 in a report on Friday, August 2nd. JMP Securities lowered their target price on Oaktree Specialty Lending from $21.00 to $20.00 and set a market outperform rating for the company in a report on Tuesday, July 30th. Wells Fargo & Company cut their price target on Oaktree Specialty Lending from $19.00 to $18.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. B. Riley lowered their price objective on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an overweight rating on the stock in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $18.42.

Oaktree Specialty Lending Trading Up 1.1 %

Shares of OCSL opened at $16.19 on Monday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.08 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.24 and a quick ratio of 0.24. Oaktree Specialty Lending has a 1-year low of $15.56 and a 1-year high of $21.64. The company has a 50-day moving average of $18.46 and a 200 day moving average of $19.27.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 13.59%. The ex-dividend date of this dividend is Monday, September 16th. Oaktree Specialty Lending’s payout ratio is currently 164.18%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Oaktree Specialty Lending by 21.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,885,293 shares of the credit services provider’s stock valued at $35,463,000 after buying an additional 327,416 shares in the last quarter. Claret Asset Management Corp grew its holdings in Oaktree Specialty Lending by 2.8% in the first quarter. Claret Asset Management Corp now owns 1,191,891 shares of the credit services provider’s stock worth $23,433,000 after purchasing an additional 32,989 shares during the last quarter. Melia Wealth LLC acquired a new position in shares of Oaktree Specialty Lending during the first quarter worth $13,168,000. TMD Wealth Management LLC increased its position in shares of Oaktree Specialty Lending by 16.0% during the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock worth $10,679,000 after purchasing an additional 78,404 shares in the last quarter. Finally, Trinity Financial Advisors LLC lifted its holdings in shares of Oaktree Specialty Lending by 106.2% during the 4th quarter. Trinity Financial Advisors LLC now owns 484,890 shares of the credit services provider’s stock valued at $9,901,000 after purchasing an additional 249,714 shares during the last quarter. 36.79% of the stock is currently owned by 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.