Oaktree Specialty Lending (NASDAQ:OCSL) Cut to Sell at B. Riley

B. Riley cut shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a neutral rating to a sell rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $15.00 price objective on the credit services provider’s stock.

Several other equities research analysts also recently weighed in on OCSL. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 target price (down previously from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. StockNews.com lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Tuesday. Oppenheimer restated a “market perform” rating and set a $18.00 target price on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd. JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company dropped their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Price Performance

Shares of Oaktree Specialty Lending stock opened at $16.04 on Wednesday. The stock has a 50 day moving average price of $16.18 and a 200-day moving average price of $17.14. Oaktree Specialty Lending has a one year low of $15.40 and a one year high of $21.64. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 22.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.55 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.20 annualized dividend and a yield of 13.72%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 305.56%.

Institutional Investors Weigh In On Oaktree Specialty Lending

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Oaktree Specialty Lending by 7.3% during the third quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock valued at $32,567,000 after buying an additional 137,508 shares during the period. Bruni J V & Co. Co. increased its position in Oaktree Specialty Lending by 1.3% during 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. raised its holdings in shares of Oaktree Specialty Lending by 91.5% in the 3rd quarter. Private Management Group Inc. now owns 1,407,573 shares of the credit services provider’s stock valued at $22,958,000 after purchasing an additional 672,561 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Oaktree Specialty Lending by 7.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock valued at $9,515,000 after purchasing an additional 40,641 shares in the last quarter. Finally, TMD Wealth Management LLC lifted its position 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 worth $10,679,000 after purchasing an additional 78,404 shares during the period. 36.79% of the stock is owned by institutional investors.

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.