Oaktree Specialty Lending (NASDAQ:OCSL) reduced to “sell” on StockNews.com
Oaktree Specialty Loans (NASDAQ:OCSL – Get A Note) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released Friday.
Separately, Hovde Group reduced its price target on Oaktree Specialty Lending to $7.00 in a Friday, May 20 research report.
Oaktree Specialty Loan Price Performance
Shares of OCSL rose $0.06 during Friday trading hours, hitting $7.07. The stock had trading volume of 674,479 shares, compared to an average volume of 1,099,764. Oaktree Specialty Lending has a 1-year low of $6.20 and a 1-year high of $7.81 . The company has a debt ratio of 0.47, a current ratio of 0.09 and a quick ratio of 0.09. The stock’s 50-day moving average price is $6.74 and its two-hundred-day moving average price is $7.13. The stock has a market capitalization of $1.30 billion, a price-earnings ratio of 9.30 and a beta of 1.25.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last reported results on Thursday, May 5. The credit service provider reported earnings per share (EPS) of $0.18 for the quarter, beating the consensus estimate of $0.17 by $0.01. Oaktree Specialty Lending had a return on equity of 9.59% and a net margin of 53.18%. The company posted revenue of $64.30 million for the quarter, compared to $58.95 million expected by analysts. Equity analysts expect Oaktree Specialty Lending to post EPS of 0.72 for the current year.
Insider buying and selling
Separately, Chairman Mathew Pendo purchased 18,381 shares in a transaction that took place on Monday, May 9. The stock was purchased at an average cost of $7.06 per share, for a total transaction of $129,769.86. Following completion of the transaction, the President now directly owns 103,591 shares of the company, valued at $731,352.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Oaktree Specialty Lending news, Chairman Mathew Pendo purchased 18,381 shares of the company in a trade dated Monday, May 9. The shares were acquired at an average cost of $7.06 per share, for a total transaction of $129,769.86. Following completion of the transaction, the president now owns 103,591 shares of the company, valued at $731,352.46. The acquisition was disclosed in an SEC filing, which is available via this link. Additionally, director Phyllis R. Caldwell purchased 5,000 shares of the company in a transaction dated Monday, May 23. The shares were acquired at an average price of $6.80 per share, with a total value of $34,000.00. Following the completion of the transaction, the director now owns 12,700 shares of the company, valued at approximately $86,360. Disclosure of this purchase can be found here. Insiders have purchased a total of 30,881 shares of the company worth $215,195 over the past three months. 0.32% of the shares are held by insiders.
Institutional Trading of Oaktree Specialty Loans
Institutional investors and hedge funds have recently changed their positions in the company. Kistler Tiffany Companies LLC purchased a new stake in shares of Oaktree Specialty Lending during the first quarter at a value of $56,000. Adirondack Trust Co. increased its stake in shares of Oaktree Specialty Lending by 352.3% during the second quarter. Adirondack Trust Co. now owns 8,634 shares of the credit service provider valued at $57,000 after purchasing an additional 6,725 shares during the period. Pinnacle Associates Ltd. bought a new stock position in Oaktree Specialty Lending during the second quarter for $76,000. MQS Management LLC purchased a new stock position in Oaktree Specialty Lending during the second quarter for $87,000. Finally, Atria Wealth Solutions Inc. bought a new stock position in Oaktree Specialty Lending during the first quarter at a value of $98,000. 65.27% of the shares are currently held by institutional investors.
About Oaktree Specialty Loans
(Get a rating)
Oaktree Specialty Lending Corporation is a business development company specializing in middle market investments, bridge financing, first and second lien debt financing, unsecured and mezzanine loans, mezzanine debt, senior and junior secured debt , expansions, sponsor-led acquisitions, preferred stock and management buy-outs in small and medium-sized businesses.
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