Brokerages Set Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Price Target at $15.83

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) have earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have covered the stock in the last year is $15.83.

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. B. Riley assumed coverage on Oaktree Specialty Lending in a research report on Tuesday, May 13th. They issued a “neutral” rating and a $14.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price objective on Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th.

Insider Buying and Selling

In other Oaktree Specialty Lending news, insider Armen Panossian bought 8,000 shares of Oaktree Specialty Lending stock in a transaction on Thursday, May 15th. The shares were purchased at an average cost of $14.13 per share, for a total transaction of $113,040.00. Following the completion of the acquisition, the insider now owns 20,789 shares in the company, valued at approximately $293,748.57. The trade was a 62.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig A. Jacobson bought 14,910 shares of Oaktree Specialty Lending stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $13.41 per share, for a total transaction of $199,943.10. Following the completion of the acquisition, the director now owns 71,667 shares of the company’s stock, valued at approximately $961,054.47. This represents a 26.27% increase in their position. The disclosure for this purchase can be found here. 0.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI grew its holdings in shares of Oaktree Specialty Lending by 259.0% during the first quarter. National Bank of Canada FI now owns 1,691 shares of the credit services provider’s stock worth $26,000 after buying an additional 1,220 shares in the last quarter. SVB Wealth LLC bought a new stake in Oaktree Specialty Lending during the first quarter worth about $26,000. Canton Hathaway LLC bought a new stake in Oaktree Specialty Lending during the fourth quarter worth about $44,000. PNC Financial Services Group Inc. bought a new stake in Oaktree Specialty Lending during the first quarter worth about $47,000. Finally, Anchor Investment Management LLC bought a new stake in Oaktree Specialty Lending during the first quarter worth about $49,000. 36.79% of the stock is currently owned by institutional investors.

Oaktree Specialty Lending Price Performance

Oaktree Specialty Lending stock opened at $13.64 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $1.20 billion, a PE ratio of 104.92 and a beta of 0.70. Oaktree Specialty Lending has a one year low of $12.50 and a one year high of $19.05. The business has a 50 day simple moving average of $14.14 and a 200 day simple moving average of $14.97.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Thursday, May 1st. The credit services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.06). Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. The company had revenue of $70.52 million for the quarter, compared to the consensus estimate of $84.67 million. During the same quarter last year, the business earned $0.56 EPS. On average, sell-side analysts forecast that Oaktree Specialty Lending will post 2.06 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.73%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 1,230.77%.

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.