Oaktree Specialty Lending (NASDAQ: OCSL) demoted by Zacks Investment Research to “Hold”
Oaktree Specialty Loans (NASDAQ: OCSL) was downgraded by Zacks Investment Research from a “buy” rating to a “custody” rating in a note issued to investors on Thursday, Zacks.com reports.
According to Zacks, “Oaktree Specialty Lending Corporation is a specialty finance company. It provides one-stop personalized credit solutions to companies with limited access to public or syndicated capital markets. The company generates current income and capital appreciation by providing businesses with innovative financing solutions, including first and second lien loans, unsecured and mezzanine loans and preferred shares. Oaktree Specialty Lending Corporation, formerly known as Fifth Street Finance Corp., is based in California, United States.
Several other analysts also commented on the company. TheStreet downgraded Oaktree Specialty Lending from a “c +” rating to a “b” rating in a report released on Wednesday, August 4. JMP Securities raised its price target on Oaktree Specialty Lending from $ 7.50 to $ 8.00 and gave the company a rating of “outperforming the market” in a research note on Monday, August 9. Finally, Oppenheimer began covering Oaktree Specialty Lending in a research note on Wednesday, June 23. They set an “outperform” rating and a price target of $ 7.50 for the stock. One investment analyst rated the stock with a conservation rating and three issued a buy rating for the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $ 7.69.
NASDAQ OCSL shares opened at $ 7.14 on Thursday. The company has a fifty-day moving average price of $ 7.16 and a 200-day moving average price of $ 6.83. Oaktree Specialty Lending has a one-year low of $ 4.52 and a one-year high of $ 7.40. The company has a leverage ratio of 0.49, a current ratio of 0.21, and a rapid ratio of 0.21. The stock has a market cap of $ 1.29 billion, a price / earnings ratio of 3.92, a price / earnings-growth ratio of 0.98, and a beta of 1.47.
Oaktree Specialty Lending (NASDAQ: OCSL) last released its quarterly results on Thursday, August 5. The credit services provider reported earnings of $ 0.19 per share for the quarter, beating analysts’ consensus estimates of $ 0.14 per $ 0.05. The company posted revenue of $ 65.44 million for the quarter, compared to analysts’ expectations of $ 50.69 million. Oaktree Specialty Lending had a net margin of 143.41% and a return on equity of 8.87%. As a group, equity research analysts expect Oaktree Specialty Lending to post 0.62 earnings per share for the current fiscal year.
Meanwhile, main shareholder Leonard M. Tannenbaum sold 4,214,368 shares of the company in a transaction dated Monday, September 20. The stock was sold for an average price of $ 7.10, for a total value of $ 29,922,012.80. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the shares are currently owned by insiders.
A number of institutional investors and hedge funds have recently changed their positions in OCSL. Victory Capital Management Inc. increased its stake in Oaktree Specialty Lending shares by 28.4% during the 1st quarter. Victory Capital Management Inc. now owns 26,370 shares of the credit services provider valued at $ 163,000 after purchasing an additional 5,826 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Oaktree Specialty Lending during the first quarter valued at approximately $ 91,000. Envestnet Asset Management Inc. acquired a new position in Oaktree Specialty Lending during the first quarter, valued at approximately $ 131,000. Cambridge Investment Research Advisors Inc. increased its holdings in Oaktree Specialty Lending by 14.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 54,003 shares of the credit services provider valued at $ 335,000 after acquiring an additional 6,953 shares during the period. Finally, Russell Investments Group Ltd. strengthened its position in Oaktree Specialty Lending by 353.8% in the 1st quarter. Russell Investments Group Ltd. now owns 151,051 shares of the credit service provider valued at $ 936,000 after purchasing an additional 117,763 shares in the last quarter. 47.20% of the shares are currently held by institutional investors.
About Oaktree Specialty Loans
Oaktree Specialty Lending Corp. is a specialized finance company that provides personalized one-stop credit solutions to companies with limited access to public or syndicated capital markets. His portfolio includes first lien, second lien, kemper jv and equity. The company was founded on February 15, 2007 and is headquartered in Los Angeles, California, with an investment of $ 10 million to $ 100 million and EBITDA of $ 25 to $ 250 million.
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