Oaktree Specialty Lending (NASDAQ:OCSL) Upgraded by Zacks Investment Research to Hold

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Zacks Investment Research upgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a sell rating to a hold rating in a research note issued to investors on Thursday 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. “

Other research analysts have also recently issued reports about the company. TheStreet upgraded Oaktree Specialty Lending from a c rating to a b rating in a report on Monday, August 12th. Janney Montgomery Scott initiated coverage on Oaktree Specialty Lending in a report on Monday, July 29th. They set a neutral rating on the stock. Finally, National Securities restated a buy rating and set a $7.00 target price on shares of Oaktree Specialty Lending in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $6.25.

Shares of Oaktree Specialty Lending stock opened at $5.18 on Thursday. The stock has a market cap of $731.59 million, a P/E ratio of 10.59, a P/E/G ratio of 5.32 and a beta of 0.52. The stock’s 50 day simple moving average is $5.27 and its 200-day simple moving average is $5.30. 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 current ratio of 0.05 and a quick ratio of 0.05.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Wednesday, August 7th. The credit services provider reported $0.12 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The business had revenue of $36.67 million for the quarter, compared to analysts’ expectations of $39.57 million. Oaktree Specialty Lending had a return on equity of 7.66% and a net margin of 96.11%. As a group, research analysts expect that Oaktree Specialty Lending will post 0.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Thursday, September 12th. Oaktree Specialty Lending’s dividend payout ratio is presently 88.37%.

In related news, major shareholder Leonard M. Tannenbaum sold 38,964 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $5.45, for a total value of $212,353.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Leonard M. Tannenbaum sold 57,834 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $5.45, for a total value of $315,195.30. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 7,000 shares of company stock worth $37,500 and sold 491,259 shares worth $2,664,317. Corporate insiders own 0.16% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCSL. Royal Bank of Canada boosted its stake in Oaktree Specialty Lending by 38.3% in the second quarter. Royal Bank of Canada now owns 20,366 shares of the credit services provider’s stock valued at $110,000 after acquiring an additional 5,644 shares in the last quarter. Smith Moore & CO. boosted its stake in Oaktree Specialty Lending by 6.9% in the second quarter. Smith Moore & CO. now owns 69,973 shares of the credit services provider’s stock valued at $379,000 after acquiring an additional 4,501 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Oaktree Specialty Lending by 25,016.3% in the second quarter. Centaurus Financial Inc. now owns 1,064,929 shares of the credit services provider’s stock valued at $5,772,000 after acquiring an additional 1,060,689 shares in the last quarter. Citadel Advisors LLC boosted its stake in Oaktree Specialty Lending by 1.9% in the second quarter. Citadel Advisors LLC now owns 1,548,604 shares of the credit services provider’s stock valued at $8,393,000 after acquiring an additional 28,159 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Oaktree Specialty Lending by 15.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 499,039 shares of the credit services provider’s stock valued at $2,704,000 after acquiring an additional 66,206 shares in the last quarter. Hedge funds and other institutional investors own 48.85% of the company’s stock.

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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