Zacks Investment Research upgraded shares of Oaktree Strategic Income (NASDAQ:OCSI) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $9.50 price target on the stock.
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, TheStreet downgraded shares of Oaktree Strategic Income from a b- rating to a c rating in a report on Monday, March 4th.
Oaktree Strategic Income (NASDAQ:OCSI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Oaktree Strategic Income had a net margin of 21.10% and a return on equity of 7.19%. The company had revenue of $12.48 million during the quarter. Sell-side analysts expect that Oaktree Strategic Income will post 0.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 7.28%. The ex-dividend date is Thursday, June 13th. Oaktree Strategic Income’s payout ratio is currently 92.54%.
In related news, major shareholder Leonard M. Tannenbaum sold 18,200 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $8.63, for a total value of $157,066.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 5,856 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $8.64, for a total transaction of $50,595.84. The disclosure for this sale can be found here. Insiders sold 38,024 shares of company stock valued at $327,055 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of OCSI. Private Management Group Inc. lifted its holdings in Oaktree Strategic Income by 97.1% in the fourth quarter. Private Management Group Inc. now owns 938,404 shares of the company’s stock worth $7,273,000 after purchasing an additional 462,314 shares during the period. Kennedy Capital Management Inc. raised its position in Oaktree Strategic Income by 79.5% in the first quarter. Kennedy Capital Management Inc. now owns 973,625 shares of the company’s stock worth $7,886,000 after acquiring an additional 431,354 shares in the last quarter. Lindbrook Capital LLC raised its position in Oaktree Strategic Income by 939.9% in the first quarter. Lindbrook Capital LLC now owns 197,584 shares of the company’s stock worth $1,600,000 after acquiring an additional 178,584 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $3,404,000 after acquiring an additional 107,375 shares in the last quarter. Finally, West Family Investments Inc. raised its position in Oaktree Strategic Income by 61.0% in the fourth quarter. West Family Investments Inc. now owns 257,529 shares of the company’s stock worth $1,996,000 after acquiring an additional 97,556 shares in the last quarter. 33.04% of the stock is owned by institutional investors and hedge funds.
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.
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