Oaktree Specialty Lending (NASDAQ:OCSL) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Oaktree Specialty Lending from “Sell” to “Hold,” but the broader analyst consensus remains “Reduce,” with four Hold ratings and one Sell rating and an average price target of $11.83.
• OCSL opened at $11.61, below its 50-day and 200-day moving averages, and has traded between $10.63 and $14.31 over the past year. The company reported quarterly EPS of $0.38, beating estimates by $0.02, although revenue of $69.74 million fell short of expectations.
• Institutional ownership stands at 36.79%, with several investors—including Royal Bank of Canada and Balyasny Asset Management—recently increasing their positions.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Oaktree Specialty Lending from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, July 24th. Zacks Research upgraded Oaktree Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Oppenheimer set a $13.00 price objective on Oaktree Specialty Lending in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $11.83.

Oaktree Specialty Lending Stock Performance

NASDAQ:OCSL opened at $11.61 on Friday. The company has a 50-day moving average of $11.90 and a 200-day moving average of $11.97. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 20.37 and a beta of 0.49. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. Oaktree Specialty Lending has a twelve month low of $10.63 and a twelve month high of $14.31.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last released its earnings results on Tuesday, May 5th. The credit services provider reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Oaktree Specialty Lending had a net margin of 16.66% and a return on equity of 9.56%. The business had revenue of $69.74 million for the quarter, compared to the consensus estimate of $74.35 million. During the same period in the previous year, the firm earned $0.45 EPS. Analysts forecast that Oaktree Specialty Lending will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OCSL. Royal Bank of Canada lifted its position in shares of Oaktree Specialty Lending by 34.3% in the 1st quarter. Royal Bank of Canada now owns 468,879 shares of the credit services provider's stock valued at $7,201,000 after acquiring an additional 119,775 shares in the last quarter. Marshall Wace LLP purchased a new position in Oaktree Specialty Lending during the 2nd quarter worth approximately $246,000. Gabelli Funds LLC raised its stake in Oaktree Specialty Lending by 3.0% during the 2nd quarter. Gabelli Funds LLC now owns 186,379 shares of the credit services provider's stock valued at $2,546,000 after purchasing an additional 5,467 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Oaktree Specialty Lending by 688.1% in the second quarter. NewEdge Advisors LLC now owns 12,972 shares of the credit services provider's stock valued at $177,000 after purchasing an additional 11,326 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Oaktree Specialty Lending by 298.9% in the second quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider's stock valued at $8,556,000 after purchasing an additional 469,328 shares in the last quarter. 36.79% of the stock is owned by hedge funds and other institutional investors.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation NASDAQ: OCSL is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.