Oaktree Specialty Lending (NASDAQ:OCSL) Rating Lowered 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 report report published on Tuesday, MarketBeat reports.

OCSL has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price 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. Oppenheimer cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $20.00 to $18.00 in a report on Friday, August 2nd. StockNews.com lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. B. Riley lowered their price target on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending to a “hold” rating in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.75.

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock opened at $15.56 on Tuesday. The firm has a 50 day simple moving average of $16.16 and a 200 day simple moving average of $17.47. Oaktree Specialty Lending has a fifty-two week low of $15.40 and a fifty-two week high of $21.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $1.28 billion, a P/E ratio of 21.61 and a beta of 1.09.

Oaktree Specialty Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.14%. Oaktree Specialty Lending’s dividend payout ratio is 305.56%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in shares of Oaktree Specialty Lending by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 164,649 shares of the credit services provider’s stock valued at $3,097,000 after buying an additional 120,553 shares during the period. Cetera Advisors LLC grew its stake in Oaktree Specialty Lending by 286.4% in the first quarter. Cetera Advisors LLC now owns 50,245 shares of the credit services provider’s stock valued at $988,000 after acquiring an additional 37,242 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Oaktree Specialty Lending by 220.5% in the second 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 raised its position in shares of Oaktree Specialty Lending by 16.0% during the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock worth $10,679,000 after purchasing an additional 78,404 shares during the period. Finally, Private Management Group Inc. lifted its holdings in shares of Oaktree Specialty Lending by 91.5% during 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 purchasing an additional 672,561 shares in the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

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.