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

Oaktree Specialty Lending Co. (NASDAQ:OCSL) has received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $16.75.

Several research firms have recently weighed in on OCSL. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Citizens Jmp lowered Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. B. Riley decreased 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, November 20th. Finally, Oppenheimer reiterated a “market perform” rating and set a $18.00 target price on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd.

Institutional Investors Weigh In On Oaktree Specialty Lending

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in Oaktree Specialty Lending by 7.3% in the third quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock worth $32,567,000 after purchasing an additional 137,508 shares during the last quarter. Bruni J V & Co. Co. increased its holdings in shares of Oaktree Specialty Lending by 1.3% in the third quarter. Bruni J V & Co. Co. now owns 1,531,250 shares of the credit services provider’s stock worth $24,975,000 after buying an additional 19,790 shares during the period. Private Management Group Inc. lifted its stake in shares of Oaktree Specialty Lending by 91.5% in the 3rd quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock valued at $22,958,000 after acquiring an additional 672,561 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Oaktree Specialty Lending by 7.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock valued at $9,515,000 after acquiring an additional 40,641 shares during the period. Finally, TMD Wealth Management LLC grew its position in Oaktree Specialty Lending by 16.0% during the 2nd quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock worth $10,679,000 after acquiring an additional 78,404 shares during the last quarter. 36.79% of the stock is currently owned by institutional investors.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ:OCSL opened at $16.47 on Thursday. Oaktree Specialty Lending has a 12 month low of $15.40 and a 12 month high of $21.64. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.35 billion, a P/E ratio of 22.88 and a beta of 1.09. The company has a 50 day moving average of $16.16 and a 200 day moving average of $17.31.

Oaktree Specialty Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 13.36%. The ex-dividend date is Monday, December 16th. Oaktree Specialty Lending’s payout ratio is currently 305.56%.

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.