Oaktree Specialty Lending (NASDAQ:OCSL) downgraded by Zacks Investment Research

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Oaktree Specialty Loans (NASDAQ:OCSL – Get A Note) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report released Friday to clients and investors, Zacks.com reports.

According to Zacks, “Oaktree Specialty Lending Corporation is a specialty finance company. It provides customized and unique 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 senior and junior loans, unsecured and mezzanine loans and preferred shares. Oaktree Specialty Lending Corporation, formerly known as Fifth Street Finance Corp., is based in California, USA. “

A number of other research companies have also weighed in on OCSL recently. Hovde Group lowered its price target on Oaktree Specialty Loans to $7.00 in a Friday, May 20 research report. StockNews.com supported coverage of Oaktree Specialty Lending in a research report on Thursday, March 31. They issued a “maintaining” rating for the company. Two analysts rated the stock with a hold rating and two gave the company’s stock a buy rating. According to data from MarketBeat, Oaktree Specialty Lending currently has an average rating of “Buy” and an average price target of $7.81.

Shares of Oaktree Specialty Lending opened at $6.91 on Friday. The company has a debt ratio of 0.47, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $1.27 billion, a price-earnings ratio of 9.09 and a beta of 1.31. Oaktree Specialty Lending has a 1-year minimum of $6.57 and a 1-year maximum of $7.81. The company has a fifty-day moving average price of $7.25 and a 200-day moving average price of $7.38.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last released quarterly earnings data on Thursday, May 5. The credit service provider reported earnings per share of $0.18 for the quarter, beating analysts’ consensus estimate of $0.17 by $0.01. The company posted revenue of $64.30 million in the quarter, compared to $58.95 million expected by analysts. Oaktree Specialty Lending had a return on equity of 9.59% and a net margin of 53.18%. On average, equity research analysts expect Oaktree Specialty Lending to post 0.72 earnings per share for the current fiscal year.

Separately, Chairman Mathew Pendo acquired 18,381 shares of Oaktree Specialty Lending in a transaction on Monday, May 9. The shares were acquired at an average price of $7.06 per share, for a total transaction of $129,769.86. Following the purchase, the president now owns 103,591 shares of the company, valued at approximately $731,352.46. The acquisition was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, Director Phyllis R. Caldwell acquired 5,000 shares of Oaktree Specialty Lending in a trade on Wednesday, May 11. The shares were purchased at an average price of $7.04 per share, with a total value of $35,200.00. As a result of the purchase, the administrator now directly owns 7,700 shares of the company, valued at approximately $54,208. Disclosure of this purchase can be found here. Over the past ninety days, insiders have acquired 30,981 shares of the company valued at $218,262. 0.32% of the shares are currently held by insiders.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Kistler Tiffany Companies LLC purchased a new stock position in Oaktree Specialty Lending during Q1 worth approximately $56,000. MML Investors Services LLC bought a new stock position in Oaktree Specialty Lending in Q4, valued at around $75,000. BNP Paribas Arbitrage SA bought a new position in shares of Oaktree Specialty Lending in the 4th quarter, valued at approximately $81,000. Seelaus Asset Management LLC bought a new stock position in Oaktree Specialty Lending in Q4, valued at around $81,000. Finally, Centiva Capital LP bought a new position in shares of Oaktree Specialty Lending in Q3, valued at around $79,000. Institutional investors and hedge funds hold 65.27% of the company’s shares.

About Oaktree Specialty Loans (Get a rating)

Oaktree Specialty Lending Corporation is a business development company specializing in middle market investments, bridge financing, first and second lien debt financing, unsecured and mezzanine loans, mezzanine debt, senior and junior secured debt , expansions, sponsor-led acquisitions, preferred stock and management buy-outs in small and medium-sized businesses.

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