Oaktree Specialty Lending (OCSL) Downgraded to Hold at Zacks Investment Research

Oaktree Specialty Lending (NASDAQ:OCSL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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 equities analysts have also recently weighed in on OCSL. JMP Securities reaffirmed a “buy” rating and issued a $5.50 price target on shares of Oaktree Specialty Lending in a report on Tuesday, July 31st. Keefe, Bruyette & Woods set a $6.00 price target on Oaktree Specialty Lending and gave the stock a “hold” rating in a report on Wednesday, August 8th. BMO Capital Markets upped their price target on Oaktree Specialty Lending from $4.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. JPMorgan Chase & Co. upped their price target on Oaktree Specialty Lending from $5.00 to $5.50 and gave the stock an “overweight” rating in a report on Friday, August 10th. Finally, National Securities reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Oaktree Specialty Lending in a report on Monday, August 13th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Oaktree Specialty Lending currently has an average rating of “Hold” and a consensus price target of $5.42.

Shares of OCSL stock opened at $4.66 on Friday. The stock has a market capitalization of $699.16 million, a PE ratio of 9.14, a P/E/G ratio of 6.00 and a beta of 0.15. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.47. Oaktree Specialty Lending has a 52-week low of $4.17 and a 52-week high of $5.91.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its quarterly earnings results on Wednesday, August 8th. The credit services provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $31.85 million during the quarter, compared to analysts’ expectations of $32.43 million. Oaktree Specialty Lending had a positive return on equity of 6.50% and a negative net margin of 82.24%. As a group, equities research analysts expect that Oaktree Specialty Lending will post 0.41 earnings per share for the current fiscal year.

In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 72,900 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $5.00, for a total transaction of $364,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 54,176 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $5.06, for a total value of $274,130.56. The disclosure for this sale can be found here. In the last three months, insiders have acquired 10,100 shares of company stock valued at $50,630 and have sold 346,138 shares valued at $1,739,094. 0.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Private Management Group Inc. raised its holdings in shares of Oaktree Specialty Lending by 4.0% during the second quarter. Private Management Group Inc. now owns 4,710,797 shares of the credit services provider’s stock valued at $22,518,000 after acquiring an additional 181,673 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Oaktree Specialty Lending in the second quarter valued at approximately $159,000. Jane Street Group LLC grew its position in shares of Oaktree Specialty Lending by 91.7% in the first quarter. Jane Street Group LLC now owns 25,299 shares of the credit services provider’s stock valued at $107,000 after purchasing an additional 12,103 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Oaktree Specialty Lending in the first quarter valued at approximately $176,000. Finally, Monarch Partners Asset Management LLC grew its position in shares of Oaktree Specialty Lending by 13.3% in the second quarter. Monarch Partners Asset Management LLC now owns 123,740 shares of the credit services provider’s stock valued at $591,000 after purchasing an additional 14,520 shares in the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.

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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