Oaktree Strategic Income (OCSI) Upgraded to “Buy” by Zacks Investment Research

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. Zacks Investment Research currently has $9.50 price objective 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 cut Oaktree Strategic Income from a b- rating to a c rating in a report on Monday, March 4th.

OCSI opened at $8.59 on Tuesday. The company has a market capitalization of $247.52 million, a PE ratio of 12.82 and a beta of 0.54. Oaktree Strategic Income has a 12 month low of $7.52 and a 12 month high of $8.87.

Oaktree Strategic Income (NASDAQ:OCSI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $12.48 million during the quarter. Oaktree Strategic Income had a return on equity of 7.19% and a net margin of 21.10%. Sell-side analysts anticipate that Oaktree Strategic Income will post 0.69 earnings per share for the current fiscal year.

The company 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 dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.62 annualized dividend and a yield of 7.22%. Oaktree Strategic Income’s dividend payout ratio is presently 92.54%.

In related news, major shareholder Leonard M. Tannenbaum sold 3,218 shares of Oaktree Strategic Income stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $8.64, for a total transaction of $27,803.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leonard M. Tannenbaum sold 18,200 shares of Oaktree Strategic Income stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $8.63, for a total value of $157,066.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,024 shares of company stock valued at $327,055. 0.70% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. increased its position in 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 worth $1,981,000 after buying an additional 2,023 shares in the last quarter. LPL Financial LLC grew its position in shares of Oaktree Strategic Income by 5.0% in the fourth quarter. LPL Financial LLC now owns 106,423 shares of the company’s stock valued at $825,000 after purchasing an additional 5,068 shares during the period. Acadian Asset Management LLC grew its position in shares of Oaktree Strategic Income by 12.7% in the fourth quarter. Acadian Asset Management LLC now owns 83,403 shares of the company’s stock valued at $646,000 after purchasing an additional 9,387 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Oaktree Strategic Income in the fourth quarter valued at $78,000. Finally, Private Management Group Inc. grew its position in shares of Oaktree Strategic Income by 2.0% in 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. 33.04% of the stock is owned by hedge funds and other institutional investors.

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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