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

Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) have received an average recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.75.

Several research firms have recently weighed in on OCSL. StockNews.com upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Oppenheimer reiterated a “market perform” rating and set a $18.00 target price on shares of Oaktree Specialty Lending in a research note on Friday, November 22nd. B. Riley cut Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday, November 20th.

Oaktree Specialty Lending Price Performance

NASDAQ:OCSL opened at $15.72 on Friday. The stock has a market capitalization of $1.29 billion, a PE ratio of 21.83 and a beta of 1.07. Oaktree Specialty Lending has a 1-year low of $14.89 and a 1-year high of $21.64. The firm has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $16.37. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.62.

Oaktree Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 13.99%. The ex-dividend date of this dividend was Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio is 305.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OCSL. Brown Brothers Harriman & Co. bought a new stake in shares of Oaktree Specialty Lending in the second quarter valued at approximately $56,000. MRP Capital Investments LLC acquired a new stake in shares of Oaktree Specialty Lending during the 2nd quarter worth $815,000. ProShare Advisors LLC increased its position in shares of Oaktree Specialty Lending by 11.2% in the second quarter. ProShare Advisors LLC now owns 11,893 shares of the credit services provider’s stock worth $224,000 after purchasing an additional 1,194 shares during the period. Gabelli Funds LLC raised its stake in Oaktree Specialty Lending by 2.9% in the second quarter. Gabelli Funds LLC now owns 173,213 shares of the credit services provider’s stock valued at $3,258,000 after purchasing an additional 4,838 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its position in Oaktree Specialty Lending by 5.1% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 108,537 shares of the credit services provider’s stock worth $2,042,000 after purchasing an additional 5,275 shares during the period. Institutional investors and hedge funds own 36.79% of the company’s stock.

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.