JMP Securities Downgrades Oaktree Specialty Lending (NASDAQ:OCSL) to Market Perform

JMP Securities cut shares of Oaktree Specialty Lending (NASDAQ:OCSL) from an outperform rating to a market perform rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

Several other research firms also recently weighed in on OCSL. B. Riley dropped their target price on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company cut their target price on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods raised Oaktree Specialty Lending to a “hold” rating in a report on Friday, August 2nd. Finally, Oppenheimer downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $20.00 to $18.00 in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Oaktree Specialty Lending presently has a consensus rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Trading Up 1.9 %

Oaktree Specialty Lending stock opened at $15.85 on Tuesday. Oaktree Specialty Lending has a one year low of $15.40 and a one year high of $21.64. The stock has a market cap of $1.30 billion, a PE ratio of 22.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50-day moving average of $16.15 and a two-hundred day moving average of $17.45.

Oaktree Specialty Lending Dividend Announcement

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

Hedge Funds Weigh In On Oaktree Specialty Lending

Several large investors have recently made changes to their positions in the company. PFS Partners LLC raised its holdings in Oaktree Specialty Lending by 601.4% in the 3rd quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 1,660 shares during the period. Security National Bank purchased a new position in shares of Oaktree Specialty Lending during the 2nd quarter valued at approximately $42,000. Brown Brothers Harriman & Co. acquired a new stake in Oaktree Specialty Lending in the 2nd quarter valued at $56,000. Sunbelt Securities Inc. increased its holdings in Oaktree Specialty Lending by 37.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock worth $127,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Bfsg LLC raised its position in Oaktree Specialty Lending by 208.1% during the third quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock worth $135,000 after acquiring an additional 5,576 shares during the period. 36.79% of the stock is currently owned by institutional investors and hedge funds.

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.