Oaktree Specialty Lending (NASDAQ:OCSL) Given Market Perform Rating at Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a research note issued to investors on Friday,Benzinga reports. Oppenheimer currently has a $18.00 price objective on the credit services provider’s stock.

A number of other research firms have also commented on OCSL. Keefe, Bruyette & Woods reduced their price target on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 20th. StockNews.com raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. B. Riley cut their price objective on Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their target price on 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. Finally, JMP Securities cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Stock Performance

Oaktree Specialty Lending stock opened at $16.02 on Friday. The firm has a market capitalization of $1.32 billion, a P/E ratio of 22.25 and a beta of 1.09. The stock has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $17.40. 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 current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 13.73%. The ex-dividend date of this dividend is Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio is presently 305.56%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in shares of Oaktree Specialty Lending by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock valued at $32,567,000 after acquiring an additional 137,508 shares during the last quarter. Bruni J V & Co. Co. raised its stake in shares of Oaktree Specialty Lending by 1.3% in the 3rd quarter. Bruni J V & Co. Co. now owns 1,531,250 shares of the credit services provider’s stock valued at $24,975,000 after purchasing an additional 19,790 shares during the period. Private Management Group Inc. boosted its holdings in Oaktree Specialty Lending by 91.5% during the third quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock worth $22,958,000 after purchasing an additional 672,561 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Oaktree Specialty Lending by 7.5% during the third quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock worth $9,515,000 after acquiring an additional 40,641 shares in the last quarter. Finally, TMD Wealth Management LLC boosted its holdings in shares of Oaktree Specialty Lending by 16.0% in the 2nd quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock valued at $10,679,000 after buying an additional 78,404 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

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.