Brokerages Set Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Target Price at $11.83

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSLGet Free Report) have earned an average rating of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.8333.

OCSL has been the topic of several research reports. Wall Street Zen raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research raised shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings raised shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Oppenheimer set a $13.00 price target on shares of Oaktree Specialty Lending in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th.

Check Out Our Latest Stock Report on Oaktree Specialty Lending

Insider Buying and Selling

In other news, Director Phyllis R. Caldwell bought 2,500 shares of Oaktree Specialty Lending stock in a transaction on Monday, March 16th. The shares were bought at an average cost of $10.77 per share, with a total value of $26,925.00. Following the completion of the purchase, the director directly owned 23,500 shares of the company’s stock, valued at approximately $253,095. This trade represents a 11.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oaktree Specialty Lending

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. grew its holdings in shares of Oaktree Specialty Lending by 25.2% in the third quarter. Private Management Group Inc. now owns 3,014,163 shares of the credit services provider’s stock valued at $39,335,000 after purchasing an additional 607,493 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Oaktree Specialty Lending by 298.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider’s stock worth $8,556,000 after buying an additional 469,328 shares during the last quarter. UBS Group AG lifted its position in shares of Oaktree Specialty Lending by 47.5% during the 4th quarter. UBS Group AG now owns 1,333,643 shares of the credit services provider’s stock worth $16,991,000 after buying an additional 429,303 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Oaktree Specialty Lending during the 4th quarter worth approximately $4,841,000. Finally, Bruni J V & Co. Co. lifted its position in shares of Oaktree Specialty Lending by 12.4% during the 3rd quarter. Bruni J V & Co. Co. now owns 2,487,019 shares of the credit services provider’s stock worth $32,456,000 after buying an additional 274,667 shares during the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

Oaktree Specialty Lending Stock Performance

NASDAQ:OCSL opened at $12.00 on Thursday. The company’s 50-day moving average price is $12.09 and its 200-day moving average price is $12.30. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.06 billion, a P/E ratio of 21.05 and a beta of 0.50. Oaktree Specialty Lending has a twelve month low of $10.63 and a twelve month high of $14.77.

Oaktree Specialty Lending (NASDAQ:OCSLGet Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $69.74 million for the quarter, compared to the consensus estimate of $74.35 million. Oaktree Specialty Lending had a net margin of 16.66% and a return on equity of 9.56%. During the same period last year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that Oaktree Specialty Lending will post 1.5 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 10.0%. Oaktree Specialty Lending’s payout ratio is 280.70%.

Oaktree Specialty Lending Company Profile

(Get Free Report)

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.

Further Reading

Analyst Recommendations for Oaktree Specialty Lending (NASDAQ:OCSL)

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