Oaktree Specialty Lending (NASDAQ:OCSL) Lifted 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 research firms also recently commented on OCSL. National Securities reaffirmed a buy rating and set a $7.00 price objective on shares of Oaktree Specialty Lending in a report on Monday, May 13th. TheStreet upgraded Oaktree Specialty Lending from a c rating to a b rating in a report on Monday, August 12th. Finally, Janney Montgomery Scott initiated coverage on Oaktree Specialty Lending in a report on Monday, July 29th. They issued a neutral rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Oaktree Specialty Lending presently has a consensus rating of Hold and a consensus target price of $6.25.
Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Wednesday, August 7th. The credit services provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Oaktree Specialty Lending had a net margin of 96.11% and a return on equity of 7.66%. The business had revenue of $36.67 million for the quarter, compared to the consensus estimate of $39.57 million. As a group, equities analysts forecast that Oaktree Specialty Lending will post 0.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend is Thursday, September 12th. Oaktree Specialty Lending’s dividend payout ratio is 88.37%.
In other news, major shareholder Leonard M. Tannenbaum sold 57,834 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $5.45, for a total value of $315,195.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Leonard M. Tannenbaum sold 38,964 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were 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 393,227 shares of company stock valued at $2,132,004 over the last quarter. Company insiders own 0.16% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Oaktree Specialty Lending by 38.3% in the 2nd quarter. Royal Bank of Canada now owns 20,366 shares of the credit services provider’s stock valued at $110,000 after buying an additional 5,644 shares in the last quarter. Smith Moore & CO. lifted its position in shares of Oaktree Specialty Lending by 6.9% during the second quarter. Smith Moore & CO. now owns 69,973 shares of the credit services provider’s stock worth $379,000 after purchasing an additional 4,501 shares during the last quarter. Centaurus Financial Inc. lifted its position in shares of Oaktree Specialty Lending by 25,016.3% during the second quarter. Centaurus Financial Inc. now owns 1,064,929 shares of the credit services provider’s stock worth $5,772,000 after purchasing an additional 1,060,689 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Oaktree Specialty Lending by 1.9% during the second quarter. Citadel Advisors LLC now owns 1,548,604 shares of the credit services provider’s stock worth $8,393,000 after purchasing an additional 28,159 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Oaktree Specialty Lending by 15.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 499,039 shares of the credit services provider’s stock worth $2,704,000 after purchasing an additional 66,206 shares during the last quarter. Institutional investors and hedge funds own 50.05% of the company’s stock.
About Oaktree Specialty Lending
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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