Oaktree Specialty Lending (NASDAQ:OCSL) Receives New Coverage from Analysts at Jefferies Financial Group
Jefferies Financial Group assumed coverage on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a research note published on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $6.50 price target on the credit services provider’s stock.
OCSL has been the topic of several other reports. Janney Montgomery Scott initiated coverage on Oaktree Specialty Lending in a report on Monday, July 29th. They set a neutral rating on the stock. TheStreet upgraded Oaktree Specialty Lending from a c rating to a b rating in a report on Monday, August 12th. Finally, Zacks Investment Research downgraded Oaktree Specialty Lending from a hold rating to a sell rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $6.31.
OCSL stock traded down $0.04 during midday trading on Thursday, hitting $5.14. 178,861 shares of the company’s stock were exchanged, compared to its average volume of 364,624. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.18. Oaktree Specialty Lending has a 12-month low of $4.08 and a 12-month high of $5.75. The firm has a 50 day moving average price of $5.17 and a 200-day moving average price of $5.30. The stock has a market capitalization of $724.54 million, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 5.16 and a beta of 0.51.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.095 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.39%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 88.37%.
In other news, major shareholder Leonard M. Tannenbaum sold 22,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $5.26, for a total value of $119,533.50. 0.16% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter valued at approximately $58,000. Raymond James Trust N.A. bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter valued at approximately $62,000. Almitas Capital LLC acquired a new position in Oaktree Specialty Lending during the 1st quarter valued at approximately $72,000. Quantitative Systematic Strategies LLC acquired a new position in Oaktree Specialty Lending during the 2nd quarter valued at approximately $81,000. Finally, Brown Advisory Inc. acquired a new position in Oaktree Specialty Lending during the 2nd quarter valued at approximately $108,000. Institutional investors and hedge funds own 50.04% of the company’s stock.
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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