Oaktree Specialty Lending Corp (NASDAQ:OCSL) Receives $6.42 Average Target Price from Brokerages

Shares of Oaktree Specialty Lending Corp (NASDAQ:OCSL) have been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $6.42.

A number of analysts recently issued reports on OCSL shares. ValuEngine lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research lowered Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Finally, Jefferies Financial Group started coverage on Oaktree Specialty Lending in a research note on Thursday, October 10th. They set a “buy” rating and a $6.50 price objective on the stock.

In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 198,500 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $5.22, for a total value of $1,036,170.00. Following the transaction, the insider now directly owns 15,166,858 shares in the company, valued at approximately $79,170,998.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 45,402 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $5.26, for a total value of $238,814.52. Following the completion of the transaction, the insider now owns 15,166,858 shares in the company, valued at $79,777,673.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 490,527 shares of company stock worth $2,572,515. 0.16% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of OCSL. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Oaktree Specialty Lending by 215.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,895 shares of the credit services provider’s stock worth $563,000 after buying an additional 70,975 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Oaktree Specialty Lending by 28.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 198,191 shares of the credit services provider’s stock worth $1,027,000 after acquiring an additional 43,961 shares in the last quarter. Centaurus Financial Inc. increased its position in Oaktree Specialty Lending by 25,016.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,064,929 shares of the credit services provider’s stock valued at $5,772,000 after buying an additional 1,060,689 shares in the last quarter. Gabelli Funds LLC increased its position in Oaktree Specialty Lending by 1.0% during the 3rd quarter. Gabelli Funds LLC now owns 374,493 shares of the credit services provider’s stock valued at $1,940,000 after buying an additional 3,723 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its position in Oaktree Specialty Lending by 326.9% during the 2nd quarter. Keeley Teton Advisors LLC now owns 1,120,588 shares of the credit services provider’s stock valued at $6,074,000 after buying an additional 858,096 shares in the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Shares of OCSL traded up $0.01 during mid-day trading on Monday, hitting $5.28. The stock had a trading volume of 290,107 shares, compared to its average volume of 474,476. The firm has a market cap of $740.04 million, a P/E ratio of 10.71, a PEG ratio of 5.47 and a beta of 0.52. The business has a fifty day moving average price of $5.23 and a 200-day moving average price of $5.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.09 and a quick ratio of 0.09. Oaktree Specialty Lending has a 52 week low of $4.08 and a 52 week high of $5.75.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Wednesday, November 20th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Oaktree Specialty Lending had a return on equity of 7.43% and a net margin of 85.42%. The firm had revenue of $34.51 million for the quarter, compared to analyst estimates of $36.08 million. As a group, research analysts expect that Oaktree Specialty Lending will post 0.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.20%. Oaktree Specialty Lending’s payout ratio is 79.17%.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies.

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