Oaktree Strategic Income (NASDAQ:OCSI) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Oaktree Strategic Income (NASDAQ:OCSI) from a buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

Shares of Oaktree Strategic Income stock opened at $8.38 on Thursday. The company has a market capitalization of $246.93 million, a P/E ratio of 12.51 and a beta of 0.48. The business has a 50-day moving average price of $8.44. Oaktree Strategic Income has a one year low of $7.52 and a one year high of $8.87.

Oaktree Strategic Income (NASDAQ:OCSI) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $12.48 million during the quarter. Oaktree Strategic Income had a net margin of 21.10% and a return on equity of 7.19%. As a group, sell-side analysts forecast that Oaktree Strategic Income will post 0.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.155 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.62 dividend on an annualized basis and a yield of 7.40%. Oaktree Strategic Income’s dividend payout ratio is presently 92.54%.

In other news, major shareholder Leonard M. Tannenbaum sold 3,218 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $8.64, for a total transaction of $27,803.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Leonard M. Tannenbaum sold 12,845 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $8.51, for a total transaction of $109,310.95. The disclosure for this sale can be found here. Insiders sold 53,069 shares of company stock valued at $455,066 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of OCSI. Punch & Associates Investment Management Inc. boosted its stake in shares of Oaktree Strategic Income by 0.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 244,549 shares of the company’s stock valued at $1,981,000 after purchasing an additional 2,023 shares during the period. Relative Value Partners Group LLC boosted its stake in shares of Oaktree Strategic Income by 19.6% during the first quarter. Relative Value Partners Group LLC now owns 522,906 shares of the company’s stock valued at $4,236,000 after purchasing an additional 85,729 shares during the period. Kennedy Capital Management Inc. boosted its stake in shares of Oaktree Strategic Income by 79.5% during the first quarter. Kennedy Capital Management Inc. now owns 973,625 shares of the company’s stock valued at $7,886,000 after purchasing an additional 431,354 shares during the period. Private Management Group Inc. boosted its stake in shares of Oaktree Strategic Income by 2.0% during the first quarter. Private Management Group Inc. now owns 956,964 shares of the company’s stock valued at $7,751,000 after purchasing an additional 18,560 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Oaktree Strategic Income by 44.9% during the first quarter. Acadian Asset Management LLC now owns 120,871 shares of the company’s stock valued at $980,000 after purchasing an additional 37,468 shares during the period. Hedge funds and other institutional investors own 31.18% 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.

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