Oaktree Specialty Lending Corp (NASDAQ:OCSL) Short Interest Update
Oaktree Specialty Lending Corp (NASDAQ:OCSL) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,350,000 shares, an increase of 14.4% from the January 15th total of 1,180,000 shares. Based on an average daily volume of 513,400 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.1% of the company’s shares are short sold.
NASDAQ OCSL traded up $0.04 during midday trading on Friday, hitting $5.40. 635,200 shares of the company traded hands, compared to its average volume of 568,200. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $755.55 million, a PE ratio of 6.75, a price-to-earnings-growth ratio of 6.65 and a beta of 0.51. The company’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $5.29. Oaktree Specialty Lending has a 52 week low of $5.00 and a 52 week high of $5.75.
Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Thursday, February 6th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $30.96 million for the quarter, compared to the consensus estimate of $34.68 million. Oaktree Specialty Lending had a net margin of 79.98% and a return on equity of 6.96%. On average, research analysts predict that Oaktree Specialty Lending will post 0.4 earnings per share for the current year.
In related news, major shareholder Leonard M. Tannenbaum sold 198,500 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $5.22, for a total value of $1,036,170.00. Following the transaction, the insider now owns 15,166,858 shares of the company’s stock, valued at $79,170,998.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Mathew Pendo acquired 5,990 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $31,447.50. Following the purchase, the chief operating officer now owns 25,040 shares of the company’s stock, valued at $131,460. The disclosure for this purchase can be found here. In the last three months, insiders purchased 12,990 shares of company stock worth $68,348 and sold 893,118 shares worth $4,775,167. 0.19% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth $69,000. Royal Bank of Canada boosted its position in shares of 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 worth $110,000 after purchasing an additional 5,644 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Oaktree Specialty Lending by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 23,243 shares of the credit services provider’s stock worth $127,000 after purchasing an additional 2,177 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth $151,000. Finally, First Foundation Advisors acquired a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth $165,000. 50.27% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on OCSL. BidaskClub cut Oaktree Specialty Lending from a “sell” rating to a “strong sell” rating in a research note on Friday, February 7th. ValuEngine raised Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Wells Fargo & Co raised Oaktree Specialty Lending from an “equal weight” rating to an “overweight” rating and set a $6.00 target price on the stock in a research report on Wednesday, January 15th. They noted that the move was a valuation call. TheStreet raised Oaktree Specialty Lending from a “c+” rating to a “b-” rating in a research report on Friday, January 24th. Finally, Zacks Investment Research cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.38.
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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