Zacks Investment Research Downgrades Oaktree Strategic Income (OCSI) to Hold

Oaktree Strategic Income (NASDAQ:OCSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

OCSI opened at $8.52 on Thursday. Oaktree Strategic Income has a 52 week low of $7.03 and a 52 week high of $9.06. The firm has a market cap of $254.89 million, a PE ratio of 11.21 and a beta of 0.26. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.61.

Oaktree Strategic Income (NASDAQ:OCSI) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. Oaktree Strategic Income had a positive return on equity of 6.75% and a negative net margin of 4.80%. The business had revenue of $11.66 million during the quarter. Equities research analysts predict that Oaktree Strategic Income will post 0.66 earnings per share for the current fiscal year.

In other news, major shareholder Leonard M. Tannenbaum sold 5,155 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $8.50, for a total value of $43,817.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Melvin Carlisle acquired 3,000 shares of Oaktree Strategic Income stock in a transaction dated Tuesday, August 28th. The stock was bought at an average price of $8.70 per share, for a total transaction of $26,100.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 15,149 shares of company stock worth $130,088 and sold 260,572 shares worth $2,260,698. 0.41% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Springhouse Capital Management LP raised its stake in shares of Oaktree Strategic Income by 41.5% in the first quarter. Springhouse Capital Management LP now owns 1,184,891 shares of the company’s stock valued at $9,349,000 after acquiring an additional 347,281 shares in the last quarter. Greenwich Investment Management Inc. raised its stake in Oaktree Strategic Income by 80.5% in the second quarter. Greenwich Investment Management Inc. now owns 570,607 shares of the company’s stock valued at $4,850,000 after buying an additional 254,503 shares in the last quarter. Wells Fargo & Company MN raised its stake in Oaktree Strategic Income by 16.9% in the first quarter. Wells Fargo & Company MN now owns 419,637 shares of the company’s stock valued at $3,311,000 after buying an additional 60,803 shares in the last quarter. Private Management Group Inc. raised its stake in Oaktree Strategic Income by 29.7% in the second quarter. Private Management Group Inc. now owns 407,723 shares of the company’s stock valued at $3,466,000 after buying an additional 93,352 shares in the last quarter. Finally, BB&T Securities LLC raised its stake in Oaktree Strategic Income by 68.0% in the second quarter. BB&T Securities LLC now owns 139,968 shares of the company’s stock valued at $1,189,000 after buying an additional 56,668 shares in the last quarter. Institutional investors and hedge funds own 28.84% of the company’s stock.

About Oaktree Strategic Income

Fifth Street Senior Floating Rate Corp. is a business development company specializing in providing financing solutions in the form of floating rate senior secured loans to mid-sized companies.

Recommended Story: Intrinsic Value

Get a free copy of the Zacks research report on Oaktree Strategic Income (OCSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Oaktree Strategic Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Strategic Income and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply