Zacks Investment Research Lowers Oaktree Specialty Lending (OCSL) to Sell

Oaktree Specialty Lending (NASDAQ:OCSL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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 equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Oaktree Specialty Lending from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. National Securities reissued a “neutral” rating and set a $5.00 price target on shares of Oaktree Specialty Lending in a report on Monday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Oaktree Specialty Lending from $5.00 to $5.50 and gave the company an “overweight” rating in a report on Friday, August 10th. BMO Capital Markets lifted their price target on shares of Oaktree Specialty Lending from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, August 10th. Finally, JMP Securities reissued a “buy” rating and set a $5.50 price target on shares of Oaktree Specialty Lending in a report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.42.

Shares of OCSL stock opened at $4.69 on Thursday. Oaktree Specialty Lending has a 12-month low of $4.17 and a 12-month high of $5.75. The stock has a market cap of $659.70 million, a P/E ratio of 9.20, a PEG ratio of 5.12 and a beta of 0.26. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.47.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Wednesday, August 8th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Oaktree Specialty Lending had a negative net margin of 82.24% and a positive return on equity of 6.50%. The firm had revenue of $31.85 million during the quarter, compared to the consensus estimate of $32.43 million. On average, equities research analysts expect that Oaktree Specialty Lending will post 0.41 EPS for the current fiscal year.

In other news, major shareholder Leonard M. Tannenbaum sold 72,900 shares of Oaktree Specialty Lending stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $5.00, for a total transaction of $364,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Leonard M. Tannenbaum sold 116,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $5.00, for a total transaction of $580,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,138 shares of company stock valued at $1,739,094. 0.10% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Private Management Group Inc. grew its position in shares of Oaktree Specialty Lending by 4.0% during the 2nd quarter. Private Management Group Inc. now owns 4,710,797 shares of the credit services provider’s stock worth $22,518,000 after buying an additional 181,673 shares during the period. Jane Street Group LLC boosted its stake in Oaktree Specialty Lending by 91.7% during the 1st quarter. Jane Street Group LLC now owns 25,299 shares of the credit services provider’s stock worth $107,000 after acquiring an additional 12,103 shares during the last quarter. Marquette Asset Management LLC bought a new position in Oaktree Specialty Lending during the 2nd quarter worth approximately $159,000. Monarch Partners Asset Management LLC boosted its stake in Oaktree Specialty Lending by 13.3% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 123,740 shares of the credit services provider’s stock worth $591,000 after acquiring an additional 14,520 shares during the last quarter. Finally, Laurel Grove Capital LLC boosted its stake in Oaktree Specialty Lending by 9.4% during the 2nd quarter. Laurel Grove Capital LLC now owns 359,850 shares of the credit services provider’s stock worth $1,720,000 after acquiring an additional 31,000 shares during the last quarter. Institutional investors own 42.38% 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.

Recommended Story: Consumer behavior in bull markets

Get a free copy of the Zacks research report on Oaktree Specialty Lending (OCSL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Oaktree Specialty Lending (NASDAQ:OCSL)

Receive News & Ratings for Oaktree Specialty Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Specialty Lending and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply