Oaktree Specialty Lending (NASDAQ:OCSL) Cut to Hold at Zacks Investment Research
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 brokerages also recently weighed in on OCSL. National Securities restated a buy rating and set a $7.00 target price on shares of Oaktree Specialty Lending in a research note on Monday, May 13th. Janney Montgomery Scott started coverage on Oaktree Specialty Lending in a research note on Monday, July 29th. They set a neutral rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $6.25.
Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Wednesday, August 7th. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Oaktree Specialty Lending had a return on equity of 7.76% and a net margin of 96.11%. The firm had revenue of $36.67 million during the quarter, compared to the consensus estimate of $39.57 million. On average, research analysts predict that Oaktree Specialty Lending will post 0.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.095 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.38%. Oaktree Specialty Lending’s dividend payout ratio is currently 88.37%.
In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 59,284 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.43, for a total value of $321,912.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Leonard M. Tannenbaum sold 38,964 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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. Insiders sold a total of 783,976 shares of company stock valued at $4,316,543 in the last quarter. Corporate insiders own 0.16% of the company’s stock.
Several hedge funds have recently made changes to their positions in OCSL. Legacy Bridge LLC bought a new stake in shares of Oaktree Specialty Lending in the 1st quarter worth approximately $28,000. Quantamental Technologies LLC bought a new stake in shares of Oaktree Specialty Lending in the 1st quarter worth approximately $28,000. Fox Run Management L.L.C. bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter worth approximately $58,000. Group One Trading L.P. raised its holdings in shares of Oaktree Specialty Lending by 125.8% in the 1st 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 in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of Oaktree Specialty Lending in the 2nd quarter worth approximately $62,000. Institutional investors own 47.62% 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.
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