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

StockNews.com cut shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a hold rating to a sell rating in a research report released on Tuesday.

A number of other analysts have also weighed in on OCSL. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (down previously from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Oppenheimer reaffirmed a “market perform” rating and set a $18.00 price objective on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd. Wells Fargo & Company reduced 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. JMP Securities downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 19th. Finally, Citizens Jmp downgraded shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Oaktree Specialty Lending currently has an average rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Trading Up 0.6 %

NASDAQ OCSL opened at $16.23 on Tuesday. The company’s 50-day simple moving average is $16.19 and its two-hundred day simple moving average is $17.16. Oaktree Specialty Lending has a one year low of $15.40 and a one year high of $21.64. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 13.56%. The ex-dividend date is Monday, December 16th. Oaktree Specialty Lending’s payout ratio is 305.56%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of OCSL. Financial Strategies Group Inc. increased its stake in shares of Oaktree Specialty Lending by 84.6% in the second quarter. Financial Strategies Group Inc. now owns 18,666 shares of the credit services provider’s stock worth $347,000 after acquiring an additional 8,553 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Oaktree Specialty Lending by 6.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 186,787 shares of the credit services provider’s stock valued at $3,513,000 after buying an additional 10,526 shares during the period. Carnegie Investment Counsel boosted its position in Oaktree Specialty Lending by 6.1% in the 2nd quarter. Carnegie Investment Counsel now owns 228,532 shares of the credit services provider’s stock worth $4,299,000 after purchasing an additional 13,111 shares in the last quarter. Security National Bank purchased a new position in Oaktree Specialty Lending in the second quarter valued at $42,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Oaktree Specialty Lending by 8.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 258,591 shares of the credit services provider’s stock worth $4,864,000 after acquiring an additional 19,323 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.