Oaktree Specialty Lending (NASDAQ:OCSL) Lowered to “Sell” at Zacks Investment Research

Oaktree Specialty Lending (NASDAQ:OCSL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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 equities research analysts have also recently issued reports about the company. Janney Montgomery Scott began coverage on Oaktree Specialty Lending in a research note on Monday, July 29th. They set a “neutral” rating on the stock. TheStreet raised Oaktree Specialty Lending from a “c” rating to a “b” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.25.



Shares of NASDAQ OCSL opened at $5.10 on Wednesday. The business’s 50 day moving average is $5.18 and its two-hundred day moving average is $5.30. 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 has a 1-year low of $4.08 and a 1-year high of $5.75. The stock has a market capitalization of $728.77 million, a P/E ratio of 11.83, a PEG ratio of 5.35 and a beta of 0.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data 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. Oaktree Specialty Lending had a return on equity of 7.66% and a net margin of 96.11%. The company had revenue of $36.67 million for the quarter, compared to analysts’ expectations of $39.57 million. As a group, equities research analysts anticipate that Oaktree Specialty Lending will post 0.48 earnings per share for the current fiscal year.

In other news, major shareholder Leonard M. Tannenbaum sold 22,725 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $5.26, for a total transaction of $119,533.50. Also, major shareholder Leonard M. Tannenbaum sold 38,964 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $5.45, for a total value of $212,353.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,508 shares of company stock worth $1,235,043. Insiders own 0.16% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Oaktree Specialty Lending during the second quarter valued at approximately $58,000. Group One Trading L.P. lifted its holdings 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 worth $62,000 after buying an additional 6,700 shares during the period. Raymond James Trust N.A. acquired a new position in shares of Oaktree Specialty Lending during the second quarter worth $62,000. Almitas Capital LLC acquired a new position in shares of Oaktree Specialty Lending during the first quarter worth $72,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Oaktree Specialty Lending during the second quarter worth $81,000. 50.00% 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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