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

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

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company dropped their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. B. Riley reduced their target price 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. Keefe, Bruyette & Woods raised Oaktree Specialty Lending to a “hold” rating in a research report on Friday, August 2nd. Finally, Oppenheimer cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their price target for the company from $20.00 to $18.00 in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Price Performance

NASDAQ OCSL opened at $15.56 on Tuesday. The stock has a market capitalization of $1.28 billion, a PE ratio of 21.61 and a beta of 1.09. The stock has a 50-day simple moving average of $16.16 and a 200 day simple moving average of $17.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. Oaktree Specialty Lending has a twelve month low of $15.40 and a twelve month high of $21.64.

Oaktree Specialty Lending Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.20 annualized dividend and a dividend yield of 14.14%. Oaktree Specialty Lending’s dividend payout ratio is currently 305.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC boosted its stake in shares of Oaktree Specialty Lending by 4.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 15,852 shares of the credit services provider’s stock valued at $259,000 after purchasing an additional 730 shares in the last quarter. Integrated Advisors Network LLC grew its stake in Oaktree Specialty Lending by 3.8% during the third quarter. Integrated Advisors Network LLC now owns 22,826 shares of the credit services provider’s stock worth $372,000 after buying an additional 826 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Oaktree Specialty Lending by 5.6% during the third quarter. Apollon Wealth Management LLC now owns 18,930 shares of the credit services provider’s stock worth $309,000 after buying an additional 998 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Oaktree Specialty Lending by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 28,838 shares of the credit services provider’s stock valued at $464,000 after acquiring an additional 1,030 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Oaktree Specialty Lending by 11.2% in the 2nd quarter. ProShare Advisors LLC now owns 11,893 shares of the credit services provider’s stock worth $224,000 after acquiring an additional 1,194 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.

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.