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

Zacks Investment Research lowered shares of Oaktree Strategic Income (NASDAQ:OCSI) from a buy rating to a hold rating in a research report report published 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. Oaktree Strategic Income has a one year low of $7.52 and a one year high of $8.87. The company’s 50-day simple moving average is $8.44. The company has a market cap of $246.93 million, a price-to-earnings ratio of 11.80 and a beta of 0.48.

Oaktree Strategic Income (NASDAQ:OCSI) last announced its 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. Oaktree Strategic Income had a return on equity of 7.19% and a net margin of 21.10%. The company had revenue of $12.48 million for the quarter. On average, equities analysts predict that Oaktree Strategic Income will post 0.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.62 annualized dividend and a dividend yield of 7.40%. Oaktree Strategic Income’s payout ratio is 92.54%.

In other Oaktree Strategic Income news, major shareholder Leonard M. Tannenbaum sold 3,218 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $8.64, for a total value of $27,803.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Leonard M. Tannenbaum sold 18,200 shares of the stock in a transaction that occurred 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. In the last 90 days, insiders have sold 53,069 shares of company stock worth $455,066. 0.56% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in OCSI. LPL Financial LLC boosted 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 acquiring an additional 5,068 shares during the period. Standard Life Aberdeen plc lifted its position in Oaktree Strategic Income by 106.4% in the fourth quarter. Standard Life Aberdeen plc now owns 97,000 shares of the company’s stock worth $760,000 after purchasing an additional 50,000 shares during the period. Two Sigma Securities LLC bought a new position in Oaktree Strategic Income in the fourth quarter worth $161,000. Deutsche Bank AG bought a new position in Oaktree Strategic Income in the fourth quarter worth $156,000. Finally, Lindbrook Capital LLC lifted 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 purchasing an additional 178,584 shares during the period. Institutional investors and hedge funds 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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