Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, Zacks.com reports. The firm presently has a $7.75 price target on the credit services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.40% from the company’s previous close.
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 analysts have also issued research reports about the stock. StockNews.com assumed coverage on shares of Oaktree Specialty Lending in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Hovde Group reduced their target price on shares of Oaktree Specialty Lending to $7.00 in a report on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.69.
NASDAQ OCSL opened at $7.02 on Friday. The company’s 50 day simple moving average is $7.25 and its two-hundred day simple moving average is $7.38. The stock has a market capitalization of $1.29 billion, a PE ratio of 9.24 and a beta of 1.31. Oaktree Specialty Lending has a 1 year low of $6.57 and a 1 year high of $7.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.09 and a quick ratio of 0.09.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The credit services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $64.30 million for the quarter, compared to analyst estimates of $58.95 million. Oaktree Specialty Lending had a net margin of 53.18% and a return on equity of 9.59%. On average, research analysts anticipate that Oaktree Specialty Lending will post 0.72 EPS for the current year.
In other news, Director Phyllis R. Caldwell purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $7.04 per share, with a total value of $35,200.00. Following the acquisition, the director now directly owns 7,700 shares in the company, valued at $54,208. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Mathew Pendo purchased 18,381 shares of the business’s stock in a transaction on Monday, May 9th. The stock was purchased at an average cost of $7.06 per share, for a total transaction of $129,769.86. Following the acquisition, the president now owns 103,591 shares in the company, valued at $731,352.46. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 30,981 shares of company stock worth $218,262. 0.32% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Ares Management LLC grew its holdings in Oaktree Specialty Lending by 7.7% in the 4th quarter. Ares Management LLC now owns 5,490,077 shares of the credit services provider’s stock worth $40,956,000 after acquiring an additional 393,658 shares during the last quarter. Bruni J V & Co. Co. lifted its position in shares of Oaktree Specialty Lending by 0.5% in the 4th quarter. Bruni J V & Co. Co. now owns 4,514,890 shares of the credit services provider’s stock worth $33,681,000 after purchasing an additional 20,900 shares during the period. Oaktree Capital Management LP lifted its position in shares of Oaktree Specialty Lending by 1,526.9% in the 3rd quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit services provider’s stock worth $31,701,000 after purchasing an additional 4,214,368 shares during the period. Van ECK Associates Corp lifted its position in shares of Oaktree Specialty Lending by 48.4% in the 1st quarter. Van ECK Associates Corp now owns 3,868,924 shares of the credit services provider’s stock worth $28,514,000 after purchasing an additional 1,261,296 shares during the period. Finally, LSV Asset Management lifted its position in shares of Oaktree Specialty Lending by 11.2% in the 1st quarter. LSV Asset Management now owns 3,111,980 shares of the credit services provider’s stock worth $22,935,000 after purchasing an additional 312,300 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.
Oaktree Specialty Lending Company Profile (Get Rating)
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity and management buyouts in small and mid-sized companies.
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