Oaktree Specialty Lending (NASDAQ:OCSL) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Oaktree Specialty Lending (NASDAQ:OCSL) announced its quarterly earnings results on Tuesday. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02), FiscalAI reports. The firm had revenue of $69.15 million for the quarter, compared to analysts’ expectations of $69.40 million. Oaktree Specialty Lending had a return on equity of 9.56% and a net margin of 16.66%.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ:OCSL traded down $0.02 on Wednesday, hitting $12.11. The company had a trading volume of 659,031 shares, compared to its average volume of 777,116. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.07 billion, a PE ratio of 21.25 and a beta of 0.49. Oaktree Specialty Lending has a 52-week low of $10.63 and a 52-week high of $14.31. The business has a 50 day moving average of $11.91 and a 200 day moving average of $11.95.

Institutional Trading of Oaktree Specialty Lending

A number of hedge funds have recently bought and sold shares of OCSL. UBS Group AG raised its stake in shares of Oaktree Specialty Lending by 7.4% in the 3rd quarter. UBS Group AG now owns 904,340 shares of the credit services provider’s stock valued at $11,802,000 after acquiring an additional 62,158 shares during the period. Invesco Ltd. lifted its stake in shares of Oaktree Specialty Lending by 25.6% in the 3rd quarter. Invesco Ltd. now owns 886,847 shares of the credit services provider’s stock valued at $11,573,000 after purchasing an additional 181,023 shares during the last quarter. Balyasny Asset Management L.P. increased its stake 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 worth $8,556,000 after purchasing an additional 469,328 shares during the period. Royal Bank of Canada increased its position in 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 worth $7,201,000 after buying an additional 119,775 shares during the period. Finally, Two Sigma Investments LP raised its position in Oaktree Specialty Lending by 221.2% in the third quarter. Two Sigma Investments LP now owns 388,157 shares of the credit services provider’s stock worth $5,065,000 after purchasing an additional 267,318 shares in the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer set a $13.00 price target on Oaktree Specialty Lending in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $11.83.

About Oaktree Specialty Lending

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.