Oaktree Specialty Lending (NASDAQ:OCSL) Downgraded by Citizens Jmp to Hold

Citizens Jmp lowered shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on the company. JMP Securities lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 price objective (down from $17.00) on shares of Oaktree Specialty Lending in a research report on Wednesday. B. Riley dropped their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. Oppenheimer reiterated a “market perform” rating and issued a $18.00 price target on shares of Oaktree Specialty Lending in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Trading Up 1.9 %

Oaktree Specialty Lending stock opened at $15.85 on Tuesday. The stock has a 50-day simple moving average of $16.15 and a 200 day simple moving average of $17.45. The stock has a market capitalization of $1.30 billion, a P/E ratio of 22.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.17 and a current ratio of 0.19. Oaktree Specialty Lending has a 52 week low of $15.40 and a 52 week high of $21.64.

Oaktree Specialty Lending Dividend Announcement

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

Institutional Investors Weigh In On Oaktree Specialty Lending

Several institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in Oaktree Specialty Lending by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 164,649 shares of the credit services provider’s stock worth $3,097,000 after purchasing an additional 120,553 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Oaktree Specialty Lending by 286.4% during the 1st quarter. Cetera Advisors LLC now owns 50,245 shares of the credit services provider’s stock worth $988,000 after acquiring an additional 37,242 shares during the period. Confluence Investment Management LLC boosted its position in shares of Oaktree Specialty Lending by 220.5% during the 2nd quarter. Confluence Investment Management LLC now owns 120,283 shares of the credit services provider’s stock worth $2,263,000 after acquiring an additional 82,751 shares in the last quarter. TMD Wealth Management LLC increased its stake in Oaktree Specialty Lending by 16.0% in the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock valued at $10,679,000 after acquiring an additional 78,404 shares during the last quarter. Finally, Private Management Group Inc. raised its position 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 purchasing an additional 672,561 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors.

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.