Oaktree Specialty Lending (NASDAQ:OCSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
A number of other research firms have also recently issued reports on OCSL. Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. National Securities restated a “neutral” rating and set a $5.00 price target on shares of Oaktree Specialty Lending in a report on Monday, August 13th. JPMorgan Chase & Co. upped their price target on shares of Oaktree Specialty Lending from $5.00 to $5.50 and gave the company an “overweight” rating in a report on Friday, August 10th. BMO Capital Markets upped their price target on shares of Oaktree Specialty Lending from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, August 10th. Finally, JMP Securities restated a “buy” rating and set a $5.50 price target on shares of Oaktree Specialty Lending in a report on Tuesday, July 31st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.42.
OCSL stock opened at $4.49 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.26 and a quick ratio of 0.26. Oaktree Specialty Lending has a 52-week low of $4.17 and a 52-week high of $5.55. The stock has a market cap of $641.37 million, a price-to-earnings ratio of 8.80, a PEG ratio of 4.98 and a beta of 0.26.
In related news, CFO Melvin Carlisle bought 5,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Monday, August 27th. The stock was acquired at an average price of $5.05 per share, for a total transaction of $25,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Leonard M. Tannenbaum sold 54,176 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $5.06, for a total transaction of $274,130.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 346,138 shares of company stock valued at $1,739,094. 0.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC lifted its stake in shares of Oaktree Specialty Lending by 26.7% in the third quarter. Lido Advisors LLC now owns 117,506 shares of the credit services provider’s stock valued at $582,000 after buying an additional 24,777 shares during the period. Muzinich & Co. Inc. lifted its stake in shares of Oaktree Specialty Lending by 7.8% in the third quarter. Muzinich & Co. Inc. now owns 1,918,196 shares of the credit services provider’s stock valued at $9,514,000 after buying an additional 138,411 shares during the period. Standard Life Aberdeen plc bought a new stake in shares of Oaktree Specialty Lending in the third quarter valued at about $770,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Oaktree Specialty Lending in the third quarter valued at about $153,000. Finally, Hilton Capital Management LLC lifted its stake in shares of Oaktree Specialty Lending by 24.6% in the third quarter. Hilton Capital Management LLC now owns 3,957,659 shares of the credit services provider’s stock valued at $19,630,000 after buying an additional 780,594 shares during the period. Institutional investors and hedge funds own 42.75% of the company’s stock.
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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