Oaktree Specialty Lending (OCSL) Shares Down 0% on Disappointing Earnings
Oaktree Specialty Lending Corp (NASDAQ:OCSL)’s share price dropped 0% on Thursday following a dissappointing earnings announcement. The company traded as low as $4.36 and last traded at $4.36. Approximately 2,740,358 shares traded hands during mid-day trading, an increase of 201% from the average daily volume of 909,093 shares. The stock had previously closed at $4.36.
The credit services provider reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). Oaktree Specialty Lending had a positive return on equity of 7.40% and a negative net margin of 110.68%.
A number of brokerages have commented on OCSL. National Securities cut Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $5.00 in a research report on Friday, December 1st. JPMorgan Chase & Co. raised Oaktree Specialty Lending from a “neutral” rating to an “overweight” rating and set a $6.00 price target for the company in a research report on Tuesday. Keefe, Bruyette & Woods set a $6.00 price target on Oaktree Specialty Lending and gave the stock a “hold” rating in a research report on Thursday, November 30th. Zacks Investment Research raised Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Tuesday, November 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $5.00 price target on shares of Oaktree Specialty Lending in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.75.
Several hedge funds have recently modified their holdings of OCSL. Comerica Bank acquired a new position in shares of Oaktree Specialty Lending in the 4th quarter valued at about $109,000. Hillsdale Investment Management Inc. acquired a new position in shares of Oaktree Specialty Lending in the 3rd quarter valued at about $129,000. Wells Fargo & Company MN acquired a new position in shares of Oaktree Specialty Lending in the 4th quarter valued at about $173,000. Moody National Bank Trust Division acquired a new position in shares of Oaktree Specialty Lending in the 4th quarter valued at about $197,000. Finally, Monarch Partners Asset Management LLC acquired a new position in shares of Oaktree Specialty Lending in the 4th quarter valued at about $343,000. 35.70% of the stock is owned by institutional investors and hedge funds.
The firm has a market cap of $665.34, a price-to-earnings ratio of 9.25, a PEG ratio of 5.85 and a beta of 0.02. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.48.
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Oaktree Specialty Lending Company Profile
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is focused on providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company provides companies with flexible financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity.
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