Zacks Investment Research Cuts Oaktree’s Specialized Loans (NASDAQ: OCSL) To Hold
Oaktree Specialty Loans (NASDAQ: OCSL) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a report released Friday, 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. “
Separately, JMP Securities raised its price target on Oaktree Specialty Lending from $ 8.00 to $ 8.50 and rated the stock as “outperforming the market” in a report released on Wednesday, November 17th. One research analyst rated the stock with a conservation rating and three gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $ 7.88.
Shares of Oaktree Specialty Lending opened at $ 7.54 on Friday. Oaktree Specialty Lending has a one-year low of $ 5.47 and a one-year high of $ 7.62. The company has a 50-day moving average of $ 7.43 and a two-hundred-day moving average of $ 7.19. The company has a market cap of $ 1.36 billion, a P / E ratio of 4.96, a price / earnings-growth ratio of 0.93 and a beta of 1.40. The company has a debt to equity ratio of 0.49, a current ratio of 0.09, and a rapid ratio of 0.09.
Oaktree Specialty Lending (NASDAQ: OCSL) last reported quarterly results on Tuesday, November 16. The credit services provider reported earnings per share (EPS) of $ 0.16 for the quarter, beating the consensus estimate of $ 0.15 by $ 0.01. The company posted revenue of $ 63.80 million in the quarter, compared to a consensus estimate of $ 52.41 million. Oaktree Specialty Lending reported a return on equity of 8.51% and a net margin of 113.31%. During the same period of the previous year, the company made a profit of $ 0.17 per share. On average, equity analysts expect Oaktree Specialty Lending to post 0.67 EPS for the current fiscal year.
Meanwhile, main shareholder Leonard M. Tannenbaum sold 200,000 shares of Oaktree Specialty Lending in a transaction that took place on Thursday, December 23. The stock was sold at an average price of $ 7.51, for a total trade of $ 1,502,000.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible through this hyperlink. Additionally, principal shareholder Leonard M. Tannenbaum sold 48,173 shares of Oaktree Specialty Lending in a trade on Wednesday, November 10. The shares were sold for an average price of $ 7.50, for a total value of $ 361,297.50. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 804,703 shares of the company valued at $ 6,051,111. Insiders own 0.19% of the shares of the company.
Several institutional investors and hedge funds have recently changed their holdings to OCSL. Oaktree Capital Management LP increased its stake in Oaktree Specialty Lending shares by 1,526.9% in the third quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit services provider valued at $ 31,701,000 after purchasing an additional 4,214,368 shares in the last quarter. Millennium Management LLC increased its position in Oaktree Specialty Lending by 149.5% during the 3rd quarter. Millennium Management LLC now owns 2,260,466 shares of the credit service provider valued at $ 15,959,000 after acquiring 1,354,562 additional shares in the last quarter. Relative Value Partners Group LLC purchased a new stake in Oaktree Specialty Lending during the second quarter for a value of $ 7,098,000. Ares Management LLC increased its position in Oaktree Specialty Lending by 12.1% during the 3rd quarter. Ares Management LLC now owns 5,096,419 shares of the credit service provider valued at $ 35,981,000 after acquiring an additional 549,497 shares during the last quarter. Finally, Rezny Wealth Management Inc. increased its position in Oaktree Specialty Lending shares by 486.9% in the 3rd quarter. Rezny Wealth Management Inc. now owns 588,242 shares of the credit service provider valued at $ 4,152,000 after purchasing an additional 488,008 shares in the last quarter. Institutional investors hold 68.71% of the shares of the company.
Oaktree Specialty Loan Company Profile
Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to growing private, small and medium-sized businesses. While fostering growth is our primary mission, a singular goal guides all of our partnering activities for success.
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