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 brokerages have also commented on OCSL. Janney Montgomery Scott initiated coverage on Oaktree Specialty Lending in a research note on Monday, July 29th. They set a neutral rating for the company. TheStreet upgraded Oaktree Specialty Lending from a c rating to a b rating in a research report on Monday, August 12th. Finally, National Securities restated a buy rating and set a $7.00 price objective on shares of Oaktree Specialty Lending in a research report on Monday, May 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $6.25.
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 analysts’ consensus estimates of $0.12. Oaktree Specialty Lending had a return on equity of 7.66% and a net margin of 96.11%. The company had revenue of $36.67 million during the quarter, compared to analyst estimates of $39.57 million. As a group, equities research analysts forecast that Oaktree Specialty Lending will post 0.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.38 annualized dividend and a yield of 7.34%. Oaktree Specialty Lending’s payout ratio is currently 88.37%.
In other news, major shareholder Leonard M. Tannenbaum sold 98,032 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $5.43, for a total value of $532,313.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 57,834 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $5.45, for a total value of $315,195.30. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 7,000 shares of company stock worth $37,500 and have sold 491,259 shares worth $2,664,317. 0.16% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Oaktree Specialty Lending in the 1st quarter worth $525,000. Quantamental Technologies LLC acquired a new stake in Oaktree Specialty Lending during the 1st quarter worth about $28,000. Legacy Bridge LLC acquired a new stake in Oaktree Specialty Lending during the 1st quarter worth about $28,000. Fox Run Management L.L.C. acquired a new stake in Oaktree Specialty Lending during the 2nd quarter worth about $58,000. Finally, Raymond James Trust N.A. acquired a new stake in Oaktree Specialty Lending during the 2nd quarter worth about $62,000. 48.85% of the stock is owned by hedge funds and other institutional investors.
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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