Oaktree Specialty Lending (NASDAQ:OCSL) Issues Quarterly Earnings Results

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

Oaktree Specialty Lending Stock Performance

Shares of Oaktree Specialty Lending stock traded down $0.11 on Wednesday, reaching $12.02. 758,665 shares of the stock were exchanged, compared to its average volume of 777,714. The business has a 50 day moving average price of $11.91 and a two-hundred day moving average price of $11.95. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 21.10 and a beta of 0.49. Oaktree Specialty Lending has a twelve month low of $10.63 and a twelve month high of $14.31. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.68.

Institutional Trading of Oaktree Specialty Lending

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arax Advisory Partners acquired a new stake in shares of Oaktree Specialty Lending in the fourth quarter worth $408,000. Running Point Capital Advisors LLC boosted its holdings in Oaktree Specialty Lending by 3.1% in the fourth quarter. Running Point Capital Advisors LLC now owns 28,789 shares of the credit services provider’s stock valued at $367,000 after purchasing an additional 877 shares during the last quarter. Millennium Management LLC purchased a new stake in Oaktree Specialty Lending in the third quarter valued at $347,000. ExodusPoint Capital Management LP acquired a new stake in Oaktree Specialty Lending during the 4th quarter worth about $301,000. Finally, Marshall Wace LLP acquired a new stake in Oaktree Specialty Lending during the 2nd quarter worth about $246,000. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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