Oaktree Specialty Lending (NASDAQ:OCSL) Price Target Lowered to $20.00 at JPMorgan Chase & Co. (2024)

Oaktree Specialty Lending (NASDAQ:OCSL – Free Report) had its target price lowered by JPMorgan Chase & Co. from $21.00 to $20.00 in a report issued on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the credit services provider’s stock.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods downgraded 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 note on Friday, February 2nd. Wells Fargo & Company upped their price objective on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an overweight rating in a research note on Monday, January 29th. B. Riley downgraded Oaktree Specialty Lending from a buy rating to a neutral rating and set a $21.00 price objective for the company. in a research note on Monday, January 8th. Finally, JMP Securities reissued a market outperform rating and set a $21.00 target price on shares of Oaktree Specialty Lending in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $20.67.

Check Out Our Latest Report on OCSL

Oaktree Specialty Lending Stock Performance

Shares of OCSL stock opened at $19.27 on Friday. The stock has a market cap of $1.52 billion, a P/E ratio of 12.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.25 and a quick ratio of 0.25. The company has a fifty day moving average price of $19.64 and a two-hundred day moving average price of $19.95. Oaktree Specialty Lending has a one year low of $17.99 and a one year high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $97.99 million during the quarter, compared to analyst estimates of $99.48 million. Oaktree Specialty Lending had a net margin of 28.81% and a return on equity of 12.22%. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, equities analysts predict that Oaktree Specialty Lending will post 2.31 EPS for the current year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.42%. The ex-dividend date of this dividend was Thursday, March 14th. Oaktree Specialty Lending’s payout ratio is 145.70%.

Insider Buying and Selling

In other news, Director Phyllis R. Caldwell bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $20.07 per share, for a total transaction of $40,140.00. Following the acquisition, the director now directly owns 11,166 shares in the company, valued at $224,101.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oaktree Specialty Lending

Large investors have recently modified their holdings of the company. Cape Investment Advisory Inc. bought a new position in Oaktree Specialty Lending during the 4th quarter valued at $39,000. Massmutual Trust Co. FSB ADV bought a new position in Oaktree Specialty Lending during the 4th quarter valued at $41,000. US Bancorp DE lifted its stake in Oaktree Specialty Lending by 375.4% during the 4th 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 in the last quarter. Bfsg LLC purchased a new stake in shares of Oaktree Specialty Lending during the 4th quarter valued at $71,000. Finally, Harbour Investments Inc. purchased a new stake in shares of Oaktree Specialty Lending during the 1st quarter valued at $71,000. 36.79% of the stock is currently owned by institutional investors.

Oaktree Specialty Lending Company Profile

(Get Free Report)

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.

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