Oaktree Specialty Lending (NASDAQ:OCSL) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a buy rating to a hold rating in a research report released on Saturday morning, 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. “

Several other brokerages also recently commented on OCSL. National Securities reaffirmed a buy rating and set a $7.00 target price on shares of Oaktree Specialty Lending in a report on Monday, May 13th. Janney Montgomery Scott assumed coverage on Oaktree Specialty Lending in a report on Monday, July 29th. They set a neutral rating for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently 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 Friday. 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 firm has a market capitalization of $713.96 million, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 5.29 and a beta of 0.52. The company has a fifty day moving average price of $5.32. Oaktree Specialty Lending has a fifty-two week low of $4.08 and a fifty-two week high of $5.75.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Wednesday, August 7th. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Oaktree Specialty Lending had a return on equity of 7.76% and a net margin of 96.11%. The business had revenue of $36.67 million during the quarter, compared to the consensus estimate of $39.57 million. As a group, equities research analysts expect that Oaktree Specialty Lending will post 0.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 7.38%. The ex-dividend date of this dividend is Thursday, September 12th. Oaktree Specialty Lending’s dividend payout ratio is 88.37%.

In related news, major shareholder Leonard M. Tannenbaum sold 48,700 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.64, for a total transaction of $274,668.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 178,945 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $5.68, for a total value of $1,016,407.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 783,976 shares of company stock valued at $4,316,543. 0.16% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Legacy Bridge LLC acquired a new position in Oaktree Specialty Lending during the first quarter valued at $28,000. Quantamental Technologies LLC acquired a new position in Oaktree Specialty Lending during the first quarter valued at $28,000. Fox Run Management L.L.C. acquired a new position in Oaktree Specialty Lending during the second quarter valued at $58,000. Group One Trading L.P. raised its position in Oaktree Specialty Lending by 125.8% during the first quarter. Group One Trading L.P. now owns 12,025 shares of the credit services provider’s stock valued at $62,000 after buying an additional 6,700 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in Oaktree Specialty Lending during the second quarter valued at $62,000. 47.62% of the stock is currently owned by hedge funds and other institutional investors.

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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