Oaktree Specialty Lending (NASDAQ:OCSL) Downgraded by Zacks Investment Research

Oaktree Specialty Lending (NASDAQ:OCSLGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, 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 equities research analysts have also recently weighed in on OCSL. StockNews.com began coverage on Oaktree Specialty Lending in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Hovde Group dropped their price target on Oaktree Specialty Lending to $7.00 in a research note on Friday, May 20th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Buy” and an average price target of $7.69.

NASDAQ OCSL opened at $6.97 on Thursday. The company has a market cap of $1.28 billion, a PE ratio of 9.17 and a beta of 1.32. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.47. Oaktree Specialty Lending has a 12 month low of $6.57 and a 12 month high of $7.81. The stock has a 50 day moving average of $7.19 and a 200-day moving average of $7.36.

Oaktree Specialty Lending (NASDAQ:OCSLGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The credit services provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Oaktree Specialty Lending had a return on equity of 9.59% and a net margin of 53.18%. The business had revenue of $64.30 million for the quarter, compared to analysts’ expectations of $58.95 million. As a group, sell-side analysts predict that Oaktree Specialty Lending will post 0.72 EPS for the current fiscal year.

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell bought 5,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were purchased at an average price of $6.80 per share, for a total transaction of $34,000.00. Following the completion of the transaction, the director now directly owns 12,700 shares in the company, valued at approximately $86,360. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Mathew Pendo bought 18,381 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was acquired at an average price of $7.06 per share, for a total transaction of $129,769.86. Following the transaction, the president now owns 103,591 shares of the company’s stock, valued at $731,352.46. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 28,381 shares of company stock valued at $198,970. 0.32% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in shares of Oaktree Specialty Lending by 2.7% during the first quarter. Envestnet Asset Management Inc. now owns 51,863 shares of the credit services provider’s stock worth $382,000 after purchasing an additional 1,371 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its holdings in Oaktree Specialty Lending by 9.1% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 29,726 shares of the credit services provider’s stock valued at $222,000 after acquiring an additional 2,476 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Oaktree Specialty Lending by 12.0% in the first quarter. Cibc World Market Inc. now owns 23,990 shares of the credit services provider’s stock valued at $177,000 after acquiring an additional 2,565 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Oaktree Specialty Lending by 0.3% in the first quarter. The Manufacturers Life Insurance Company now owns 876,354 shares of the credit services provider’s stock valued at $6,459,000 after acquiring an additional 2,890 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Oaktree Specialty Lending by 39.6% in the fourth quarter. CIBC Asset Management Inc now owns 14,016 shares of the credit services provider’s stock valued at $105,000 after acquiring an additional 3,974 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About Oaktree Specialty Lending (Get Rating)

Oaktree Specialty Lending Corporation is a business development company 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.

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