Zacks Investment Research downgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a hold rating to a sell rating in a report published on Friday, Zacks.com reports.
According to Zacks, “Oaktree Specialty Lending Corporation is a specialty finance company. It provides customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. The company generates current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans and preferred equity. Oaktree Specialty Lending Corporation, formerly known as Fifth Street Finance Corp., is based in CA, United States. “
A number of other analysts also recently commented on OCSL. TheStreet upgraded shares of Oaktree Specialty Lending from a c rating to a b rating in a research report on Monday, August 12th. Janney Montgomery Scott started coverage on shares of Oaktree Specialty Lending in a research report on Monday, July 29th. They set a neutral rating on the stock. Finally, National Securities reaffirmed a buy rating and issued a $7.00 price objective on shares of Oaktree Specialty Lending in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Oaktree Specialty Lending has a consensus rating of Hold and an average target price of $6.25.
OCSL stock opened at $5.14 on Friday. Oaktree Specialty Lending has a 52 week low of $4.08 and a 52 week high of $5.75. The company has a market capitalization of $725.95 million, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 5.28 and a beta of 0.52. The firm’s 50-day moving average is $5.30 and its two-hundred day moving average is $5.30. The company has a current ratio of 0.05, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18.
Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Wednesday, August 7th. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. Oaktree Specialty Lending had a net margin of 96.11% and a return on equity of 7.66%. The company had revenue of $36.67 million for the quarter, compared to the consensus estimate of $39.57 million. On average, equities research analysts predict that Oaktree Specialty Lending will post 0.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.095 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.38 annualized dividend and a dividend yield of 7.39%. Oaktree Specialty Lending’s dividend payout ratio is currently 88.37%.
In other news, major shareholder Leonard M. Tannenbaum sold 65,072 shares of Oaktree Specialty Lending stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $5.55, for a total value of $361,149.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Leonard M. Tannenbaum sold 98,032 shares of Oaktree Specialty Lending stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $5.43, for a total transaction of $532,313.76. The disclosure for this sale can be found here. In the last ninety days, insiders bought 7,000 shares of company stock worth $37,500 and sold 605,031 shares worth $3,300,135. Insiders own 0.16% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bruni J V & Co. Co. increased its position in shares of Oaktree Specialty Lending by 1.1% in the first quarter. Bruni J V & Co. Co. now owns 4,000,165 shares of the credit services provider’s stock worth $20,721,000 after acquiring an additional 41,989 shares in the last quarter. Timber Hill LLC increased its position in shares of Oaktree Specialty Lending by 67.6% in the first quarter. Timber Hill LLC now owns 28,500 shares of the credit services provider’s stock worth $148,000 after acquiring an additional 11,500 shares in the last quarter. Greenwich Investment Management Inc. increased its position in shares of Oaktree Specialty Lending by 10.8% in the second quarter. Greenwich Investment Management Inc. now owns 1,221,418 shares of the credit services provider’s stock worth $6,620,000 after acquiring an additional 119,050 shares in the last quarter. Joseph P. Lucia & Associates LLC purchased a new position in shares of Oaktree Specialty Lending in the first quarter worth approximately $525,000. Finally, Arcadia Investment Management Corp MI increased its position in shares of Oaktree Specialty Lending by 50.0% in the first quarter. Arcadia Investment Management Corp MI now owns 30,000 shares of the credit services provider’s stock worth $155,000 after acquiring an additional 10,000 shares in the last quarter. 47.62% of the stock is currently owned by institutional investors.
Oaktree Specialty Lending Company Profile
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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