Oaktree Specialty Lending (NASDAQ:OCSL) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a report released on Thursday, Marketbeat reports. The firm set a “buy” rating and a $6.50 price target on the credit services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 25.48% from the stock’s previous close.

OCSL has been the topic of several other research reports. Janney Montgomery Scott assumed coverage on shares of Oaktree Specialty Lending in a report on Monday, July 29th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, TheStreet upgraded shares of Oaktree Specialty Lending from a “c” rating to a “b” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.31.

Shares of NASDAQ OCSL opened at $5.18 on Thursday. The firm has a market cap of $717.49 million, a PE ratio of 10.39, a P/E/G ratio of 5.06 and a beta of 0.51. Oaktree Specialty Lending has a 12-month low of $4.08 and a 12-month high of $5.75. The company’s fifty day simple moving average is $5.17 and its 200 day simple moving average is $5.30. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.18.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Wednesday, August 7th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The business had revenue of $36.67 million for the quarter, compared to analyst estimates of $39.57 million. Oaktree Specialty Lending had a net margin of 96.11% and a return on equity of 7.66%. On average, equities analysts predict that Oaktree Specialty Lending will post 0.48 earnings per share for the current year.

In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 22,725 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $5.26, for a total transaction of $119,533.50. Corporate insiders own 0.16% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCSL. DNB Asset Management AS raised its holdings in shares of Oaktree Specialty Lending by 2.0% in the second quarter. DNB Asset Management AS now owns 130,200 shares of the credit services provider’s stock valued at $706,000 after purchasing an additional 2,600 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Oaktree Specialty Lending by 9.2% in the second quarter. Advisor Group Inc. now owns 31,163 shares of the credit services provider’s stock valued at $170,000 after purchasing an additional 2,638 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Oaktree Specialty Lending by 4.4% in the first quarter. Belpointe Asset Management LLC now owns 70,956 shares of the credit services provider’s stock valued at $368,000 after purchasing an additional 3,000 shares during the last quarter. Smith Moore & CO. raised its holdings in shares of Oaktree Specialty Lending by 6.9% in the second quarter. Smith Moore & CO. now owns 69,973 shares of the credit services provider’s stock valued at $379,000 after purchasing an additional 4,501 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Oaktree Specialty Lending by 38.3% in the second quarter. Royal Bank of Canada now owns 20,366 shares of the credit services provider’s stock valued at $110,000 after purchasing an additional 5,644 shares during the last quarter. Hedge funds and other institutional investors own 50.00% of the company’s stock.

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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