Oaktree Specialty Lending Co. (NASDAQ:OCSL) Receives $16.75 Consensus PT from Brokerages

Oaktree Specialty Lending Co. (NASDAQ:OCSL) has been assigned an average recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.75.

OCSL has been the topic of several research analyst reports. B. Riley cut Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 target price on the stock. in a research note on Wednesday, December 11th. Citizens Jmp lowered shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. StockNews.com raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price objective (down from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday, November 20th. Finally, 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.

Institutional Trading of Oaktree Specialty Lending

A number of hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. raised its stake in Oaktree Specialty Lending by 91.5% during the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock valued at $22,958,000 after buying an additional 672,561 shares during the last quarter. Rivernorth Capital Management LLC bought a new stake in Oaktree Specialty Lending in the 3rd quarter worth about $6,598,000. Van ECK Associates Corp lifted its position in 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 valued at $35,463,000 after purchasing an additional 327,416 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Oaktree Specialty Lending by 148.2% in the third quarter. Harbor Capital Advisors Inc. now owns 408,612 shares of the credit services provider’s stock worth $6,664,000 after acquiring an additional 243,963 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in shares of Oaktree Specialty Lending during the 2nd quarter valued at about $4,243,000. 36.79% of the stock is owned by institutional investors.

Oaktree Specialty Lending Stock Up 1.7 %

Shares of NASDAQ:OCSL opened at $15.24 on Monday. The stock’s 50-day moving average is $15.99 and its 200 day moving average is $16.88. The company has a market cap of $1.25 billion, a PE ratio of 21.17 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.19 and a quick ratio of 0.19. Oaktree Specialty Lending has a 1 year low of $14.95 and a 1 year high of $21.64.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.44%. The ex-dividend date is Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio is 305.56%.

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.