Zacks Investment Research upgraded shares of Oaktree Strategic Income (NASDAQ:OCSI) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Oaktree Strategic Income Corporation is a specialty finance company dedicated to providing customized capital solutions to middle-market companies. The firm seeks to generate stable, current income by providing innovative first-lien financing solutions to companies across a wide variety of industries. The company is regulated as a business development company, or a BDC, under the Investment Company Act of 1940, as amended. Oaktree Strategic Income is managed by Oaktree Capital Management, L.P. “
Separately, ValuEngine cut shares of Oaktree Strategic Income from a strong-buy rating to a buy rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $9.50.
Shares of NASDAQ:OCSI opened at $8.06 on Tuesday. The company has a market cap of $237.80, a P/E ratio of 10.61 and a beta of 0.26. Oaktree Strategic Income has a 1-year low of $7.03 and a 1-year high of $9.09. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.61.
Oaktree Strategic Income (NASDAQ:OCSI) last issued its earnings results on Friday, February 9th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). The business had revenue of $10.73 million for the quarter. Oaktree Strategic Income had a positive return on equity of 6.93% and a negative net margin of 16.64%. sell-side analysts anticipate that Oaktree Strategic Income will post 0.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend was Wednesday, March 14th. Oaktree Strategic Income’s payout ratio is 73.68%.
In other news, major shareholder Oaktree Capital Management Lp acquired 47,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $7.73 per share, with a total value of $366,402.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard Ruben acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $7.86 per share, with a total value of $39,300.00. The disclosure for this purchase can be found here. Insiders have purchased 317,670 shares of company stock valued at $2,462,607 over the last 90 days. 0.35% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Mariner Investment Group LLC acquired a new position in Oaktree Strategic Income in the 4th quarter worth approximately $170,000. Garner Asset Management Corp acquired a new position in Oaktree Strategic Income in the 4th quarter worth approximately $347,000. Oaktree Capital Management LP acquired a new position in Oaktree Strategic Income in the 4th quarter worth approximately $484,000. Steelhead Partners LLC acquired a new position in Oaktree Strategic Income in the 4th quarter worth approximately $1,903,000. Finally, Spark Investment Management LLC acquired a new position in Oaktree Strategic Income in the 4th quarter worth approximately $204,000. 27.02% of the stock is owned by hedge funds and other institutional investors.
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About Oaktree Strategic Income
Oaktree Strategic Income Corporation, formerly Fifth Street Senior Floating Rate Corp., is a closed-end, non-diversified management investment company. The Company operates as a specialty finance company. The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments while seeking to preserve its capital.
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