Oaktree Specialty Lending (NASDAQ:OCSL) Announces Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• Oaktree Specialty Lending reported quarterly earnings of $0.37 EPS, missing analysts' expectations of $0.45 EPS by $0.08.
• The company's stock traded down to $13.30, marking a decrease amid average trading volume of 976,172 shares.
• Insider Armen Panossian purchased 8,000 shares at $14.13 each, increasing his holdings by over 62% to a total of 20,789 shares.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) announced its quarterly earnings results on Tuesday. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08), Zacks reports. Oaktree Specialty Lending had a return on equity of 11.77% and a net margin of 2.55%. During the same period in the previous year, the company earned $0.55 EPS.

Oaktree Specialty Lending Price Performance

Shares of OCSL stock traded down $0.21 during midday trading on Tuesday, reaching $13.30. 976,172 shares of the company traded hands, compared to its average volume of 722,017. The firm's 50 day simple moving average is $14.12 and its two-hundred day simple moving average is $14.69. The firm has a market cap of $1.17 billion, a PE ratio of 102.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.23 and a quick ratio of 0.23. Oaktree Specialty Lending has a 1-year low of $12.50 and a 1-year high of $17.16.

Insider Buying and Selling at Oaktree Specialty Lending

In other news, insider Armen Panossian acquired 8,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $14.13 per share, with a total value of $113,040.00. Following the completion of the acquisition, the insider owned 20,789 shares in the company, valued at $293,748.57. This trade represents a 62.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Oaktree Specialty Lending stock. Royal Bank of Canada raised its stake in shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Free Report) by 34.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 468,879 shares of the credit services provider's stock after buying an additional 119,775 shares during the quarter. Royal Bank of Canada owned about 0.53% of Oaktree Specialty Lending worth $7,201,000 at the end of the most recent reporting period. Institutional investors own 36.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OCSL. B. Riley initiated coverage on shares of Oaktree Specialty Lending in a report on Tuesday, May 13th. They issued a "neutral" rating and a $14.00 target price for the company. Wells Fargo & Company decreased their target price on Oaktree Specialty Lending from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded Oaktree Specialty Lending from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods reduced their price objective on Oaktree Specialty Lending from $16.50 to $15.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their target price on Oaktree Specialty Lending from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.00.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.

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