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

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

A number of other analysts have also recently commented on the company. B. Riley lowered their price target on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company cut their target price 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. StockNews.com upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reduced their target price on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Oaktree Specialty Lending in a report on Wednesday. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Price Performance

Shares of OCSL stock opened at $15.85 on Tuesday. The firm’s 50 day moving average price is $16.15 and its two-hundred day moving average price is $17.45. The stock has a market cap of $1.30 billion, a PE ratio of 22.01 and a beta of 1.09. Oaktree Specialty Lending has a 52-week low of $15.40 and a 52-week high of $21.64. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.55 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.88%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 305.56%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. ProShare Advisors LLC bought a new position in Oaktree Specialty Lending in the first quarter valued at $210,000. Gabelli Funds LLC increased its position in shares of Oaktree Specialty Lending by 3.2% in the first quarter. Gabelli Funds LLC now owns 168,375 shares of the credit services provider’s stock valued at $3,310,000 after acquiring 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% in the first quarter. Adalta Capital Management LLC now owns 39,475 shares of the credit services provider’s stock valued at $776,000 after acquiring an additional 24,625 shares during the last quarter. Cetera Advisors LLC raised its holdings in 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 worth $988,000 after acquiring an additional 37,242 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its position in Oaktree Specialty Lending by 220.5% during the second 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. 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.