Wall Street Zen Downgrades Oaktree Specialty Lending (NASDAQ:OCSL) to Sell

Oaktree Specialty Lending (NASDAQ:OCSL) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research analysts also recently commented on OCSL. JPMorgan Chase & Co. decreased their price target on shares of Oaktree Specialty Lending from $13.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Weiss Ratings raised shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Zacks Research raised shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Wells Fargo & Company decreased their price target on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Finally, Oppenheimer set a $13.00 price target on shares of Oaktree Specialty Lending in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Oaktree Specialty Lending presently has a consensus rating of “Hold” and a consensus price target of $11.83.

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock opened at $12.10 on Friday. Oaktree Specialty Lending has a 1 year low of $10.63 and a 1 year high of $14.77. The firm has a market cap of $1.07 billion, a PE ratio of 21.23 and a beta of 0.52. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.17 and a quick ratio of 0.17. The company has a 50 day simple moving average of $11.85 and a two-hundred day simple moving average of $12.52.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $69.74 million for the quarter, compared to the consensus estimate of $74.35 million. Oaktree Specialty Lending had a net margin of 16.66% and a return on equity of 9.56%. During the same period last year, the firm posted $0.45 earnings per share. Analysts expect that Oaktree Specialty Lending will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Phyllis R. Caldwell purchased 2,500 shares of the stock in a transaction dated Monday, March 16th. The stock was purchased at an average price of $10.77 per share, with a total value of $26,925.00. Following the transaction, the director directly owned 23,500 shares in the company, valued at $253,095. This trade represents a 11.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oaktree Specialty Lending

Several large investors have recently bought and sold shares of the business. NewGen Asset Management Ltd bought a new stake in Oaktree Specialty Lending in the 1st quarter worth about $458,000. Cornerstone Advisory LLC increased its holdings in Oaktree Specialty Lending by 2.0% in the 1st quarter. Cornerstone Advisory LLC now owns 43,702 shares of the credit services provider’s stock worth $494,000 after buying an additional 844 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Oaktree Specialty Lending by 118.3% in the 1st quarter. International Assets Investment Management LLC now owns 3,150 shares of the credit services provider’s stock worth $35,000 after buying an additional 1,707 shares in the last quarter. Fifth Third Bancorp bought a new stake in Oaktree Specialty Lending in the 1st quarter worth about $41,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Oaktree Specialty Lending in the 1st quarter worth about $133,000. 36.79% of the stock is currently owned by institutional investors.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.