Oaktree Specialty Lending (NASDAQ:OCSL) Coverage Initiated at B. Riley

Stock analysts at B. Riley began coverage on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a report issued on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating and a $14.00 price target on the credit services provider’s stock. B. Riley’s price objective points to a potential downside of 1.34% from the company’s current price.

A number of other brokerages have also issued reports on OCSL. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods dropped their price target on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Oaktree Specialty Lending presently has a consensus rating of “Hold” and an average target price of $15.83.

Oaktree Specialty Lending Stock Down 0.4%

NASDAQ OCSL opened at $14.19 on Tuesday. The business has a 50 day moving average price of $14.56 and a two-hundred day moving average price of $15.35. Oaktree Specialty Lending has a fifty-two week low of $12.50 and a fifty-two week high of $19.80. The stock has a market cap of $1.25 billion, a PE ratio of 21.18 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. The business had revenue of $70.52 million during the quarter, compared to analyst estimates of $84.67 million. During the same period in the previous year, the company earned $0.56 earnings per share. As a group, sell-side analysts predict that Oaktree Specialty Lending will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Craig A. Jacobson acquired 14,910 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $13.41 per share, for a total transaction of $199,943.10. Following the purchase, the director now directly owns 71,667 shares in the company, valued at $961,054.47. This represents a 26.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Samalin Investment Counsel LLC grew its stake in Oaktree Specialty Lending by 110.4% during the 1st quarter. Samalin Investment Counsel LLC now owns 85,277 shares of the credit services provider’s stock worth $1,310,000 after buying an additional 44,743 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Oaktree Specialty Lending in the first quarter worth $26,000. Arnhold LLC grew its stake in shares of Oaktree Specialty Lending by 1.7% in the first quarter. Arnhold LLC now owns 162,345 shares of the credit services provider’s stock worth $2,494,000 after purchasing an additional 2,665 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Oaktree Specialty Lending by 20.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 231,538 shares of the credit services provider’s stock worth $3,556,000 after purchasing an additional 38,914 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Oaktree Specialty Lending by 246.2% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 162,044 shares of the credit services provider’s stock worth $2,489,000 after purchasing an additional 115,240 shares in the last quarter. 36.79% of the stock is currently owned by institutional investors.

About Oaktree Specialty Lending

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.