JPMorgan Chase & Co. Cuts Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

JPMorgan Chase & Co. trimmed its position in shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) by 58.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,923 shares of the credit services provider’s stock after selling 114,669 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of Oaktree Specialty Lending worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its position in Oaktree Specialty Lending by 7.3% in the third quarter. Van ECK Associates Corp now owns 2,022,801 shares of the credit services provider’s stock worth $32,567,000 after purchasing an additional 137,508 shares during the last quarter. Bruni J V & Co. Co. increased its holdings in shares of Oaktree Specialty Lending by 1.3% in the 3rd quarter. Bruni J V & Co. Co. now owns 1,531,250 shares of the credit services provider’s stock worth $24,975,000 after buying an additional 19,790 shares during the last quarter. Private Management Group Inc. increased 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 worth $22,958,000 after buying an additional 672,561 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Oaktree Specialty Lending by 7.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 583,395 shares of the credit services provider’s stock valued at $9,515,000 after buying an additional 40,641 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Oaktree Specialty Lending by 148.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 408,612 shares of the credit services provider’s stock valued at $6,664,000 after acquiring an additional 243,963 shares during the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday, December 18th. Oppenheimer reissued 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price target (down from $17.00) on shares of Oaktree Specialty Lending in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods cut their price objective on shares of Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 20th. Finally, JMP Securities downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.75.

Oaktree Specialty Lending Stock Performance

OCSL stock opened at $15.67 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 21.76 and a beta of 1.07. Oaktree Specialty Lending Co. has a twelve month low of $14.89 and a twelve month high of $21.56. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $15.64 and its two-hundred day simple moving average is $16.34.

Oaktree Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.55 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.20 annualized dividend and a yield of 14.04%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 305.56%.

About Oaktree Specialty Lending

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.