Oaktree Specialty Lending (NASDAQ: OCSL) Reports Quarterly Results
Oaktree Specialty Lending (NASDAQ: OCSL) released its results on Tuesday. The credit services provider reported earnings of $ 0.16 per share for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.15 per $ 0.01, reports Fidelity Earnings. Oaktree Specialty Lending reported a return on equity of 8.87% and a net margin of 143.41%. During the same period of the previous year, the company posted earnings per share of $ 0.17.
NASDAQ: OCSL traded up $ 0.15 at midday on Wednesday, reaching $ 7.59. 41,773 shares of the company were traded for an average volume of 770,800. The company has a fifty-day moving average of $ 7.29 and a 200-day moving average of $ 7.01. Oaktree Specialty Lending has a twelve month low of $ 5.11 and a twelve month high of $ 7.58. The company has a market cap of $ 1.37 billion, a P / E ratio of 4.18, a P / E / G ratio of 0.99 and a beta of 1.40. The company has a leverage ratio of 0.49, a quick ratio of 0.21, and a current ratio of 0.21.
A number of equity research analysts have recently weighed on OCSL stocks. Zacks Investment Research reduced Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research note on Thursday, October 7. TheStreet downgraded Oaktree Specialty Lending from a “c +” rating to a “b” rating in a Wednesday August 4th research note. Finally, JMP Securities raised its price target on Oaktree Specialty Lending from $ 8.00 to $ 8.50 and gave the stock a “market outperformance” rating in a research note on Wednesday. One investment analyst rated the stock with a conservation rating and three issued a buy rating for the stock. Based on data from MarketBeat.com, Oaktree Specialty Lending currently has a consensus rating of “Buy” and an average price target of $ 7.81.
Meanwhile, main shareholder Leonard M. Tannenbaum sold 4,214,368 shares of the company in a transaction dated Monday, September 20. The stock was sold for an average price of $ 7.10, for a total trade of $ 29,922,012.80. The sale was disclosed in a document filed with the SEC, accessible through this link. In addition, main shareholder Leonard M. Tannenbaum sold 100,000 shares in a transaction dated Monday, November 8. The shares were sold for an average price of $ 7.51, for a total value of $ 751,000.00. Disclosure of this sale can be found here. Insiders have sold a total of 4,362,541 shares of the company valued at $ 31,034,310 during the past ninety days. 0.19% of the shares are currently owned by insiders.
Several hedge funds have recently changed their positions in OCSL. Royal Bank of Canada increased its holdings of Oaktree Specialty Lending shares by 161.8% in the third quarter. Royal Bank of Canada now owns 110,067 shares of the credit services provider valued at $ 777,000 after purchasing an additional 68,031 shares during the period. LPL Financial LLC increased its holdings in Oaktree Specialty Lending by 132.4% in the third quarter. LPL Financial LLC now owns 119,017 shares of the credit service provider valued at $ 840,000 after acquiring an additional 67,813 shares during the period. Finally, Invesco Ltd. increased its holdings in Oaktree Specialty Lending by 4.7% in the third quarter. Invesco Ltd. now owns 185,040 shares of the credit service provider valued at $ 1,306,000 after acquiring an additional 8,342 shares during the period. 68.71% of the shares are currently held by institutional investors and hedge funds.
Oaktree Specialty Loan Company Profile
Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to growing private, small and medium-sized businesses. While fostering growth is our primary mission, a singular goal guides all of our partnering activities for success.
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