Zacks Investment Research lowered shares of Oaktree Strategic Income (NASDAQ:OCSI) from a hold rating to a sell rating in a report issued on Wednesday.
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 stock opened at $8.35 on Wednesday. The stock has a market capitalization of $243.69 million, a P/E ratio of 12.34 and a beta of 0.35. Oaktree Strategic Income has a 52 week low of $7.44 and a 52 week high of $8.87.
Oaktree Strategic Income (NASDAQ:OCSI) last posted its quarterly earnings results on Thursday, November 29th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $14.72 million during the quarter. Oaktree Strategic Income had a return on equity of 6.75% and a net margin of 43.37%. Equities analysts expect that Oaktree Strategic Income will post 0.67 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend is Friday, December 14th. Oaktree Strategic Income’s dividend payout ratio (DPR) is presently 92.54%.
In other Oaktree Strategic Income news, major shareholder Leonard M. Tannenbaum sold 15,135 shares of Oaktree Strategic Income stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $8.65, for a total value of $130,917.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Leonard M. Tannenbaum sold 7,185 shares of Oaktree Strategic Income stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $8.52, for a total value of $61,216.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,547 shares of company stock valued at $798,301. 0.41% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Greenwich Investment Management Inc. grew its position 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 acquiring an additional 254,503 shares during the last quarter. Private Management Group Inc. grew its position 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 acquiring an additional 93,352 shares during the last quarter. JPMorgan Chase & Co. grew its position in Oaktree Strategic Income by 37.5% in the third quarter. JPMorgan Chase & Co. now owns 393,549 shares of the company’s stock valued at $3,404,000 after acquiring an additional 107,375 shares during the last quarter. BB&T Securities LLC grew its position 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 acquiring an additional 56,668 shares during the last quarter. Finally, LPL Financial LLC bought a new position in Oaktree Strategic Income in the third quarter valued at about $877,000. Hedge funds and other institutional investors own 31.31% of the company’s stock.
Oaktree Strategic Income Company Profile
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.
Read More: Average Daily Trade Volume – What You Need to Know
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.