Oaktree Specialty Lending (NASDAQ:OCSL) Upgraded at Zacks Research
by Tristan Rich · The Markets DailyOaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. Lucid Cap Mkts raised shares of Oaktree Specialty Lending to a “hold” rating in a report on Monday, December 15th. JPMorgan Chase & Co. cut their price target on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, March 13th. Wells Fargo & Company cut their price target on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Reduce” and an average target price of $12.17.
Check Out Our Latest Report on Oaktree Specialty Lending
Oaktree Specialty Lending Stock Performance
Shares of OCSL stock opened at $11.79 on Monday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 32.75 and a beta of 0.49. The company’s 50 day moving average is $11.65 and its 200 day moving average is $12.66. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.66. Oaktree Specialty Lending has a 52-week low of $10.63 and a 52-week high of $14.90.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The company had revenue of $74.48 million for the quarter, compared to analyst estimates of $75.72 million. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. During the same period last year, the company posted $0.54 earnings per share. On average, sell-side analysts anticipate that Oaktree Specialty Lending will post 2.06 EPS for the current fiscal year.
Insider Transactions at Oaktree Specialty Lending
In other news, Director Phyllis R. Caldwell purchased 2,500 shares of the business’s stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $10.77 per share, with a total value of $26,925.00. Following the completion of the acquisition, the director owned 23,500 shares of the company’s stock, valued at $253,095. This trade represents a 11.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.
Institutional Investors Weigh In On Oaktree Specialty Lending
Large investors have recently made changes to their positions in the stock. Garner Asset Management Corp purchased a new stake in shares of Oaktree Specialty Lending during the fourth quarter valued at $38,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Oaktree Specialty Lending during the fourth quarter valued at $42,000. Sound Income Strategies LLC purchased a new stake in shares of Oaktree Specialty Lending during the third quarter valued at $42,000. State of Alaska Department of Revenue purchased a new stake in shares of Oaktree Specialty Lending during the third quarter valued at $51,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Oaktree Specialty Lending by 1,025.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after buying an additional 3,793 shares during the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.
The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.