Zacks Research Downgrades Oaktree Specialty Lending (NASDAQ:OCSL) to Strong Sell

Oaktree Specialty Lending (NASDAQ:OCSL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on OCSL. Wall Street Zen lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday. Lucid Cap Mkts raised Oaktree Specialty Lending to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings cut Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Wells Fargo & Company cut their price objective on Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $13.75.

Oaktree Specialty Lending Stock Down 0.5%

OCSL stock traded down $0.07 on Monday, hitting $12.26. 297,699 shares of the company’s stock were exchanged, compared to its average volume of 721,503. The firm has a 50 day moving average price of $12.84 and a two-hundred day moving average price of $13.28. Oaktree Specialty Lending has a 12-month low of $11.94 and a 12-month high of $16.29. The stock has a market cap of $1.08 billion, a P/E ratio of 34.06 and a beta of 0.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.16.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Wednesday, February 4th. The credit services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $74.48 million for the quarter, compared to analyst estimates of $75.72 million. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities research analysts expect that Oaktree Specialty Lending will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several institutional investors have recently made changes to their positions in the company. Closed End Fund Advisors Inc. purchased a new stake in Oaktree Specialty Lending during the fourth quarter worth $148,000. WINTON GROUP Ltd acquired a new position in shares of Oaktree Specialty Lending in the fourth quarter worth about $208,000. Lido Advisors LLC boosted its stake in shares of Oaktree Specialty Lending by 1.5% during the 4th quarter. Lido Advisors LLC now owns 117,232 shares of the credit services provider’s stock worth $1,529,000 after acquiring an additional 1,720 shares in the last quarter. Essex Financial Services Inc. acquired a new stake in shares of Oaktree Specialty Lending during the 4th quarter valued at about $217,000. Finally, Bruni J V & Co. Co. increased its stake in shares of Oaktree Specialty Lending by 0.3% in the 4th quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider’s stock valued at $31,795,000 after purchasing an additional 8,691 shares in the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

About Oaktree Specialty Lending

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.