Oaktree Specialty Lending (NASDAQ:OCSL) Research Coverage Started at Citizens Jmp

Citizens Jmp assumed coverage on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a report published on Monday, MarketBeat reports. The firm issued a market perform rating on the credit services provider’s stock.

OCSL has been the topic of several other reports. B. Riley Financial reiterated a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Citigroup began coverage on Oaktree Specialty Lending in a report on Monday. They issued a “market perform” rating for the company. Weiss Ratings cut Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $11.83.

Oaktree Specialty Lending Trading Up 1.2%

NASDAQ:OCSL opened at $11.80 on Monday. The business’s 50-day moving average is $12.26 and its two-hundred day moving average is $12.09. The firm has a market capitalization of $1.04 billion, a PE ratio of 24.58 and a beta of 0.51. Oaktree Specialty Lending has a 12 month low of $10.63 and a 12 month high of $14.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%. The company had revenue of $69.15 million for the quarter, compared to analysts’ expectations of $69.40 million. Research analysts predict that Oaktree Specialty Lending will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.03 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. This is a decrease from Oaktree Specialty Lending’s previous quarterly dividend of $0.30. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 250.00%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Oaktree Specialty Lending by 118.3% in the first quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 1,707 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Oaktree Specialty Lending during the 2nd quarter valued at approximately $40,000. Allworth Financial LP purchased a new stake in Oaktree Specialty Lending during the 2nd quarter worth approximately $41,000. Fifth Third Bancorp purchased a new stake in Oaktree Specialty Lending during the 1st quarter worth approximately $41,000. Finally, TrinityBridge Ltd purchased a new stake in Oaktree Specialty Lending during the 2nd quarter worth approximately $88,000. 36.79% of the stock is owned by hedge funds and other institutional investors.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a business development company that provides financing to middle-market companies. The company primarily invests in privately held businesses through senior secured loans, including first-lien and unitranche loans, and may also make subordinated debt and equity investments.

OCSL seeks to generate current income and, to a lesser extent, capital appreciation by partnering with companies across a range of industries. Its investments generally support acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.

The company is externally managed by Oaktree Capital Management, a global investment management firm.