Fifth Street Finance Corp. (NASDAQ:OCSL) Upgraded to “Buy” at Zacks Investment Research

Fifth Street Finance Corp. (NASDAQ:OCSL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, November 7th. The brokerage presently has a $6.50 price target on the credit services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 21.95% from the stock’s previous close.

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. “

OCSL has been the subject of several other research reports. ValuEngine upgraded shares of Fifth Street Finance from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Deutsche Bank AG upgraded shares of Fifth Street Finance from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.75 to $6.00 in a research note on Tuesday, July 18th. J P Morgan Chase & Co boosted their price objective on shares of Fifth Street Finance from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. BidaskClub lowered shares of Fifth Street Finance from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $4.00 price objective on shares of Fifth Street Finance in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.88.

Fifth Street Finance (OCSL) traded down $0.13 during trading hours on Tuesday, hitting $5.33. 352,192 shares of the stock traded hands, compared to its average volume of 593,278. Fifth Street Finance has a twelve month low of $3.90 and a twelve month high of $5.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $751.32, a price-to-earnings ratio of 8.74, a P/E/G ratio of 2.00 and a beta of 0.14.

In other Fifth Street Finance news, major shareholder Leonard M. Tannenbaum sold 1,409,606 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $5.56, for a total transaction of $7,837,409.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $5.43, for a total transaction of $108,600.00. Following the sale, the chief executive officer now directly owns 35,968 shares in the company, valued at approximately $195,306.24. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

A hedge fund recently bought a new stake in Fifth Street Finance stock. Hillsdale Investment Management Inc. acquired a new stake in Fifth Street Finance Corp. (NASDAQ:OCSL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,600 shares of the credit services provider’s stock, valued at approximately $129,000. Institutional investors and hedge funds own 33.60% of the company’s stock.

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About Fifth Street Finance

Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.

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