Oaktree Specialty Lending (NASDAQ:OCSL) Price Target Cut to $15.50 by Analysts at Wells Fargo & Company

Oaktree Specialty Lending (NASDAQ:OCSL) had its target price cut by Wells Fargo & Company from $17.00 to $15.50 in a research report report published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

OCSL has been the topic of several other reports. StockNews.com cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. B. Riley reduced their price target on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered 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. Oppenheimer downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $20.00 to $18.00 in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending to a “hold” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Oaktree Specialty Lending Stock Performance

NASDAQ:OCSL opened at $15.96 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $17.83. The stock has a market cap of $1.31 billion, a P/E ratio of 18.34 and a beta of 1.09. Oaktree Specialty Lending has a twelve month low of $15.56 and a twelve month high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Thursday, August 1st. The credit services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. The company had revenue of $94.97 million for the quarter, compared to the consensus estimate of $99.35 million. As a group, research analysts predict that Oaktree Specialty Lending will post 2.24 EPS for the current year.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several large investors have recently modified their holdings of OCSL. SG Americas Securities LLC bought a new stake in Oaktree Specialty Lending during the 1st quarter valued at about $624,000. Harbor Capital Advisors Inc. raised its holdings in 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 worth $3,097,000 after acquiring an additional 120,553 shares during the last quarter. Cetera Advisors LLC lifted its position in Oaktree Specialty Lending by 286.4% in the 1st 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 in the last quarter. Confluence Investment Management LLC boosted its stake in 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 valued at $2,263,000 after purchasing an additional 82,751 shares during the last quarter. Finally, TMD Wealth Management LLC increased its holdings in shares of Oaktree Specialty Lending by 16.0% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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.