JPMorgan Chase & Co. Lowers Oaktree Specialty Lending (NASDAQ:OCSL) Price Target to $10.50

Oaktree Specialty Lending (NASDAQ:OCSL) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $13.50 to $10.50 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 5.70% from the company’s current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. Wall Street Zen raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research downgraded Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Lucid Cap Mkts raised Oaktree Specialty Lending to a “hold” rating in a research note on Monday, December 15th. Finally, Wells Fargo & Company decreased their target price on Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Reduce” and a consensus price target of $12.88.

Oaktree Specialty Lending Price Performance

NASDAQ:OCSL traded down $0.08 during trading hours on Friday, reaching $11.14. The company had a trading volume of 654,555 shares, compared to its average volume of 806,008. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $12.20 and a two-hundred day moving average of $12.99. Oaktree Specialty Lending has a one year low of $11.08 and a one year high of $15.85. The firm has a market capitalization of $980.88 million, a PE ratio of 30.93 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Tuesday, February 3rd. The credit services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. The company had revenue of $74.48 million for the quarter, compared to the consensus estimate of $75.72 million. During the same quarter in the previous year, the company earned $0.54 EPS. Analysts forecast that Oaktree Specialty Lending will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On Oaktree Specialty Lending

Large investors have recently made changes to their positions in the company. Generali Asset Management SPA SGR grew its position in shares of Oaktree Specialty Lending by 10.6% during the 3rd quarter. Generali Asset Management SPA SGR now owns 2,087,981 shares of the credit services provider’s stock worth $27,248,000 after buying an additional 199,415 shares during the period. Bruni J V & Co. Co. boosted its stake in Oaktree Specialty Lending by 12.4% in the third quarter. Bruni J V & Co. Co. now owns 2,487,019 shares of the credit services provider’s stock valued at $32,456,000 after acquiring an additional 274,667 shares during the last quarter. HighTower Advisors LLC boosted its stake in Oaktree Specialty Lending by 102.6% in the third quarter. HighTower Advisors LLC now owns 267,909 shares of the credit services provider’s stock valued at $3,496,000 after acquiring an additional 135,662 shares during the last quarter. Melia Wealth LLC grew its holdings in Oaktree Specialty Lending by 22.8% during the 3rd quarter. Melia Wealth LLC now owns 1,215,842 shares of the credit services provider’s stock worth $15,867,000 after acquiring an additional 225,384 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Oaktree Specialty Lending by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,173,257 shares of the credit services provider’s stock valued at $28,361,000 after acquiring an additional 134,557 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 (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.