Oaktree Specialty Lending (NASDAQ:OCSL) was upgraded by investment analysts at TheStreet from a “c” rating to a “b” rating in a note issued to investors on Monday, TheStreetRatingsTable reports.
OCSL has been the subject of a number of other research reports. Janney Montgomery Scott assumed coverage on shares of Oaktree Specialty Lending in a report on Monday, July 29th. They set a “neutral” rating for the company. National Securities reiterated a “buy” rating and set a $7.00 price objective on shares of Oaktree Specialty Lending in a research report on Monday, May 13th. Finally, Zacks Investment Research cut shares of Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Saturday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Oaktree Specialty Lending has a consensus rating of “Buy” and a consensus target price of $6.25.
Shares of Oaktree Specialty Lending stock opened at $5.15 on Monday. The stock’s 50 day moving average price is $5.32. Oaktree Specialty Lending has a 1-year low of $4.08 and a 1-year high of $5.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $713.96 million, a P/E ratio of 11.98, a PEG ratio of 5.29 and a beta of 0.52.
Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Wednesday, August 7th. The credit services provider reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. Oaktree Specialty Lending had a net margin of 96.11% and a return on equity of 7.76%. The company had revenue of $36.67 million during the quarter, compared to the consensus estimate of $39.57 million. As a group, equities analysts predict that Oaktree Specialty Lending will post 0.49 earnings per share for the current year.
In related news, major shareholder Leonard M. Tannenbaum sold 59,284 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.43, for a total transaction of $321,912.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Leonard M. Tannenbaum sold 48,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $5.64, for a total transaction of $274,668.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 783,976 shares of company stock valued at $4,316,543. 0.16% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smith Moore & CO. boosted its stake in Oaktree Specialty Lending by 3.6% during the first quarter. Smith Moore & CO. now owns 65,472 shares of the credit services provider’s stock worth $339,000 after acquiring an additional 2,278 shares in the last quarter. DNB Asset Management AS lifted its stake in shares of Oaktree Specialty Lending by 2.0% in the second quarter. DNB Asset Management AS now owns 130,200 shares of the credit services provider’s stock valued at $706,000 after buying an additional 2,600 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Oaktree Specialty Lending by 9.2% in the second quarter. Advisor Group Inc. now owns 31,163 shares of the credit services provider’s stock valued at $170,000 after buying an additional 2,638 shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new position in shares of Oaktree Specialty Lending in the first quarter valued at $525,000. Finally, SMH Capital Advisors Inc. lifted its stake in shares of Oaktree Specialty Lending by 1.2% in the first quarter. SMH Capital Advisors Inc. now owns 238,639 shares of the credit services provider’s stock valued at $1,236,000 after buying an additional 2,873 shares in the last quarter. 47.62% of the stock is currently 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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