Oaktree Specialty Lending (NASDAQ:OCSL) Rating Lowered 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 note issued to investors on Wednesday, 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. “

Other analysts also recently issued research reports about the stock. TheStreet raised shares of Oaktree Specialty Lending from a “c+” rating to a “b” rating in a report on Wednesday, August 4th. JMP Securities boosted their price objective on shares of Oaktree Specialty Lending from $8.00 to $8.50 and gave the stock a “market outperform” rating in a report on Wednesday, November 17th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Oaktree Specialty Lending currently has a consensus rating of “Buy” and an average price target of $7.88.

Shares of Oaktree Specialty Lending stock opened at $7.35 on Wednesday. Oaktree Specialty Lending has a 1 year low of $5.44 and a 1 year high of $7.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market capitalization of $1.33 billion, a P/E ratio of 4.04, a PEG ratio of 0.99 and a beta of 1.40. The company’s fifty day moving average is $7.32 and its two-hundred day moving average is $7.04.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, November 16th. The credit services provider reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Oaktree Specialty Lending had a net margin of 143.41% and a return on equity of 8.87%. During the same quarter in the prior year, the company posted $0.17 EPS. As a group, equities analysts expect that Oaktree Specialty Lending will post 0.62 earnings per share for the current year.

In other news, major shareholder Leonard M. Tannenbaum sold 4,214,368 shares of the business’s stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $7.10, for a total value of $29,922,012.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Leonard M. Tannenbaum sold 17,330 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $7.45, for a total transaction of $129,108.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,379,871 shares of company stock valued at $31,163,419. 0.19% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in OCSL. Northern Trust Corp boosted its stake in shares of Oaktree Specialty Lending by 4.8% in the first quarter. Northern Trust Corp now owns 64,353 shares of the credit services provider’s stock valued at $399,000 after purchasing an additional 2,961 shares during the period. Ameriprise Financial Inc. acquired a new stake in Oaktree Specialty Lending in the first quarter valued at $94,000. Royal Bank of Canada raised its holdings in Oaktree Specialty Lending by 27.0% in the first quarter. Royal Bank of Canada now owns 37,484 shares of the credit services provider’s stock valued at $232,000 after acquiring an additional 7,975 shares in the last quarter. Morgan Stanley raised its holdings in Oaktree Specialty Lending by 64.7% in the first quarter. Morgan Stanley now owns 1,897,896 shares of the credit services provider’s stock valued at $11,767,000 after acquiring an additional 745,828 shares in the last quarter. Finally, Childress Capital Advisors LLC acquired a new stake in Oaktree Specialty Lending in the first quarter valued at $83,000. Institutional investors and hedge funds own 68.71% of the company’s stock.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to private, small and mid-sized growing businesses. While fostering growth is our primary mission, a singular purpose drives all of our pursuits partnering for success.

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