Oaktree Specialty Lending (NASDAQ:OCSL) Upgraded by TheStreet to “B”

TheStreet upgraded shares of Oaktree Specialty Lending (NASDAQ:OCSL) from a c rating to a b rating in a report issued on Monday, TheStreetRatingsTable reports.

A number of other brokerages have also recently commented on OCSL. Janney Montgomery Scott initiated coverage on shares of Oaktree Specialty Lending in a research note on Monday, July 29th. They set a neutral rating on the stock. Zacks Investment Research cut shares of Oaktree Specialty Lending from a buy rating to a hold rating in a research note on Saturday, August 10th. Finally, National Securities restated a buy rating and set a $7.00 price target on shares of Oaktree Specialty Lending in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $6.25.

Shares of OCSL stock opened at $5.15 on Monday. The stock has a market capitalization of $710.44 million, a P/E ratio of 11.98, a PEG ratio of 5.17 and a beta of 0.52. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $5.30 and its 200 day moving average is $5.30. Oaktree Specialty Lending has a 12 month low of $4.08 and a 12 month high of $5.75.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Wednesday, August 7th. The credit services provider reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. The company had revenue of $36.67 million for the quarter, compared to analysts’ expectations of $39.57 million. Oaktree Specialty Lending had a net margin of 96.11% and a return on equity of 7.76%. On average, equities analysts predict that Oaktree Specialty Lending will post 0.49 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend is Thursday, September 12th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 88.37%.

In related news, major shareholder Leonard M. Tannenbaum sold 65,072 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $5.55, for a total transaction of $361,149.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Leonard M. Tannenbaum sold 59,284 shares of the company’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 transaction of $321,912.12. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 7,000 shares of company stock worth $37,500 and have sold 605,031 shares worth $3,300,135. Corporate insiders own 0.16% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new stake in Oaktree Specialty Lending during the 1st quarter worth approximately $28,000. Legacy Bridge LLC bought a new position in shares of Oaktree Specialty Lending in the 1st quarter worth $28,000. Fox Run Management L.L.C. bought a new position in shares of Oaktree Specialty Lending in the 2nd quarter worth $58,000. Group One Trading L.P. increased 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 during the last quarter. Finally, Raymond James Trust N.A. bought a new position in shares of Oaktree Specialty Lending in the 2nd quarter worth $62,000. 47.62% of the stock is currently owned by institutional investors and hedge funds.

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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