JPMorgan Chase & Co. Cuts Oaktree Specialty Lending (NASDAQ:OCSL) Price Target to $14.00

Oaktree Specialty Lending (NASDAQ:OCSL) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $15.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 4.63% from the stock’s previous close.

Separately, Keefe, Bruyette & Woods reduced their price target on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.25.

Oaktree Specialty Lending Trading Up 0.8 %

Shares of Oaktree Specialty Lending stock opened at $14.68 on Thursday. The stock has a market cap of $1.21 billion, a P/E ratio of 21.91 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. Oaktree Specialty Lending has a 12-month low of $12.50 and a 12-month high of $19.95. The business’s 50 day moving average is $15.10 and its 200-day moving average is $15.57.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. The firm had revenue of $86.65 million for the quarter, compared to analyst estimates of $91.93 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. Equities research analysts predict that Oaktree Specialty Lending will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oaktree Specialty Lending

Hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC bought a new position in shares of Oaktree Specialty Lending during the third quarter worth approximately $175,000. Barclays PLC increased its position in Oaktree Specialty Lending by 2.1% during the 3rd quarter. Barclays PLC now owns 105,766 shares of the credit services provider’s stock worth $1,725,000 after buying an additional 2,140 shares during the period. Rivernorth Capital Management LLC acquired a new stake in shares of Oaktree Specialty Lending during the third quarter worth $6,598,000. Confluence Investment Management LLC boosted its position in shares of Oaktree Specialty Lending by 0.5% in the fourth quarter. Confluence Investment Management LLC now owns 130,410 shares of the credit services provider’s stock valued at $1,993,000 after acquiring an additional 689 shares during the period. Finally, Fiduciary Financial Group LLC acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter valued at about $270,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

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.