Fifth Street Finance Corp. (OCSL) Given New $6.00 Price Target at J P Morgan Chase & Co
Fifth Street Finance Corp. (NASDAQ:OCSL) had its price target increased by J P Morgan Chase & Co from $5.50 to $6.00 in a research note issued to investors on Wednesday. They currently have a neutral rating on the credit services provider’s stock.
OCSL has been the topic of a number of other research reports. ValuEngine upgraded Fifth Street Finance Corp. from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Zacks Investment Research cut Fifth Street Finance Corp. from a hold rating to a sell rating in a research report on Tuesday, October 10th. BidaskClub upgraded Fifth Street Finance Corp. from a sell rating to a hold rating in a research report on Thursday, July 20th. Keefe, Bruyette & Woods restated a hold rating and issued a $6.00 price target on shares of Fifth Street Finance Corp. in a research report on Monday, October 16th. Finally, National Securities upgraded Fifth Street Finance Corp. from a neutral rating to a buy rating and raised their price target for the stock from $4.00 to $7.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $5.79.
Fifth Street Finance Corp. (NASDAQ:OCSL) last issued its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. The company had revenue of $44.92 million for the quarter, compared to analysts’ expectations of $43.35 million.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.61%. The ex-dividend date is Thursday, December 14th. Fifth Street Finance Corp.’s dividend payout ratio (DPR) is presently -288.46%.
In related news, major shareholder Leonard M. Tannenbaum sold 1,409,606 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $5.56, for a total value of $7,837,409.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bernard D. Berman sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $5.43, for a total value of $108,600.00. Following the completion of the sale, the chief executive officer now directly owns 35,968 shares in the company, valued at $195,306.24. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
About Fifth Street Finance Corp.
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.
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