Oaktree Specialty Lending (NASDAQ:OCSL) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Oaktree Specialty Lending (NASDAQ:OCSL) had its price objective lowered by JPMorgan Chase & Co. from $21.00 to $20.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the credit services provider’s stock.

Other research analysts have also issued research reports about the company. JMP Securities restated a market outperform rating and set a $21.00 price objective on shares of Oaktree Specialty Lending in a research report on Tuesday, March 26th. Wells Fargo & Company increased their price target on shares of Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an overweight rating in a report on Monday, January 29th. B. Riley downgraded shares of Oaktree Specialty Lending from a buy rating to a neutral rating and set a $21.00 price target for the company. in a report on Monday, January 8th. Finally, Keefe, Bruyette & Woods downgraded shares of Oaktree Specialty Lending from an outperform rating to a market perform rating and lowered their price target for the company from $22.00 to $19.00 in a report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $20.67.

Oaktree Specialty Lending Trading Down 0.2 %

Shares of Oaktree Specialty Lending stock opened at $19.23 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06. The business has a 50-day moving average price of $19.63 and a 200-day moving average price of $19.94. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.60. Oaktree Specialty Lending has a twelve month low of $17.99 and a twelve month high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Thursday, February 1st. The credit services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The firm had revenue of $97.99 million for the quarter, compared to analysts’ expectations of $99.48 million. Oaktree Specialty Lending had a net margin of 28.81% and a return on equity of 12.22%. During the same quarter in the previous year, the business earned $0.61 EPS. Equities research analysts anticipate that Oaktree Specialty Lending will post 2.31 EPS for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 11.44%. The ex-dividend date of this dividend was Thursday, March 14th. Oaktree Specialty Lending’s payout ratio is currently 145.70%.

Insiders Place Their Bets

In other news, Director Phyllis R. Caldwell acquired 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $20.07 per share, with a total value of $40,140.00. Following the completion of the purchase, the director now directly owns 11,166 shares in the company, valued at $224,101.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Institutional Trading of Oaktree Specialty Lending

Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Oaktree Specialty Lending by 237.3% in the fourth quarter. Millennium Management LLC now owns 2,374,777 shares of the credit services provider’s stock worth $16,315,000 after purchasing an additional 1,670,805 shares during the last quarter. Morgan Stanley raised its stake in shares of Oaktree Specialty Lending by 25.7% during the third quarter. Morgan Stanley now owns 1,486,654 shares of the credit services provider’s stock valued at $29,911,000 after acquiring an additional 303,600 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Oaktree Specialty Lending by 10.8% during the fourth quarter. Van ECK Associates Corp now owns 1,415,358 shares of the credit services provider’s stock valued at $28,902,000 after acquiring an additional 137,929 shares in the last quarter. BlackRock Inc. raised its stake in shares of Oaktree Specialty Lending by 18.3% during the third quarter. BlackRock Inc. now owns 1,349,903 shares of the credit services provider’s stock valued at $8,099,000 after acquiring an additional 209,037 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Oaktree Specialty Lending by 4.1% during the fourth quarter. Legal & General Group Plc now owns 1,214,821 shares of the credit services provider’s stock valued at $8,352,000 after acquiring an additional 48,182 shares in the last quarter. Institutional investors own 36.79% of the company’s stock.

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.