Oaktree Specialty Lending (NASDAQ:OCSL) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a research report sent to investors on Tuesday morning, Benzinga reports. JMP Securities currently has a $21.00 price objective on the credit services provider’s stock.

OCSL has been the subject of a number of other reports. B. Riley lowered Oaktree Specialty Lending from a buy rating to a neutral rating and set a $21.00 price target for the company. in a report on Monday, January 8th. Keefe, Bruyette & Woods cut Oaktree Specialty Lending from an outperform rating to a market perform rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Friday, February 2nd. Finally, Wells Fargo & Company boosted their price objective on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an overweight rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Oaktree Specialty Lending presently has an average rating of Hold and a consensus target price of $20.80.

Oaktree Specialty Lending Trading Up 0.8 %

NASDAQ:OCSL opened at $19.66 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.60. Oaktree Specialty Lending has a 1-year low of $17.99 and a 1-year high of $21.64. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 13.02 and a beta of 1.06. The stock has a fifty day simple moving average of $19.97 and a 200 day simple moving average of $20.00.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Thursday, February 1st. The credit services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Oaktree Specialty Lending had a return on equity of 12.22% and a net margin of 28.81%. The business had revenue of $97.99 million for the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. Sell-side analysts forecast that Oaktree Specialty Lending will post 2.31 earnings per share for the current year.

Oaktree Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 11.19%. The ex-dividend date of this dividend was Thursday, March 14th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 145.70%.

Insider Buying and Selling at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell purchased 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $20.07 per share, for a total transaction of $40,140.00. Following the completion of the transaction, the director now directly owns 11,166 shares of the company’s stock, valued at approximately $224,101.62. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Oaktree Specialty Lending

Institutional investors and hedge funds have recently bought and sold shares of the business. Cape Investment Advisory Inc. acquired a new position in Oaktree Specialty Lending in the fourth quarter worth $39,000. Deutsche Bank AG acquired a new position in shares of Oaktree Specialty Lending during the fourth quarter valued at $39,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Oaktree Specialty Lending during the fourth quarter valued at $41,000. Point72 Hong Kong Ltd acquired a new position in shares of Oaktree Specialty Lending during the second quarter valued at $54,000. Finally, US Bancorp DE lifted its stake in shares of Oaktree Specialty Lending by 375.4% during the fourth quarter. US Bancorp DE now owns 3,166 shares of the credit services provider’s stock valued at $65,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 36.79% of the company’s stock.

About Oaktree Specialty Lending

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.