Oaktree Specialty Lending (NASDAQ:OCSL) Price Target Lowered to $17.00 at Keefe, Bruyette & Woods

Oaktree Specialty Lending (NASDAQ:OCSL) had its target price lowered by Keefe, Bruyette & Woods from $18.00 to $17.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the credit services provider’s stock.

OCSL has been the subject of several other reports. StockNews.com cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. JMP Securities cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday. B. Riley reduced their price objective on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Stock Up 0.4 %

NASDAQ OCSL opened at $15.68 on Wednesday. The stock has a market cap of $1.29 billion, a PE ratio of 18.02 and a beta of 1.09. Oaktree Specialty Lending has a fifty-two week low of $15.40 and a fifty-two week high of $21.64. The business has a 50 day moving average price of $16.18 and a two-hundred day moving average price of $17.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61.

Oaktree Specialty Lending Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a yield of 14.03%. Oaktree Specialty Lending’s payout ratio is presently 252.87%.

Institutional Investors Weigh In On Oaktree Specialty Lending

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC acquired a new stake in Oaktree Specialty Lending in the 1st quarter worth approximately $210,000. Advisors Asset Management Inc. lifted its holdings in shares of Oaktree Specialty Lending by 5.3% during the first quarter. Advisors Asset Management Inc. now owns 221,235 shares of the credit services provider’s stock worth $4,349,000 after buying an additional 11,211 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Oaktree Specialty Lending by 3.2% during the first quarter. Gabelli Funds LLC now owns 168,375 shares of the credit services provider’s stock worth $3,310,000 after buying an additional 5,155 shares during the last quarter. Adalta Capital Management LLC increased its position in shares of Oaktree Specialty Lending by 165.8% during the first quarter. Adalta Capital Management LLC now owns 39,475 shares of the credit services provider’s stock valued at $776,000 after purchasing an additional 24,625 shares during the period. Finally, Cetera Advisors LLC increased its position in shares of Oaktree Specialty Lending by 286.4% during the first quarter. Cetera Advisors LLC now owns 50,245 shares of the credit services provider’s stock valued at $988,000 after purchasing an additional 37,242 shares during the period. 36.79% of the stock is owned by hedge funds and other 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.