Oaktree Strategic Income (OCSI) Rating Increased to Hold at Zacks Investment Research
Oaktree Strategic Income (NASDAQ:OCSI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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, ValuEngine downgraded Oaktree Strategic Income from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Oaktree Strategic Income has a consensus rating of “Hold” and an average target price of $9.50.
Oaktree Strategic Income (NASDAQ:OCSI) last released its quarterly earnings results on Friday, February 9th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). The firm had revenue of $10.73 million during the quarter. Oaktree Strategic Income had a negative net margin of 16.64% and a positive return on equity of 6.93%. research analysts expect that Oaktree Strategic Income will post 0.62 EPS for the current fiscal year.
In related news, Director Richard Ruben bought 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $7.86 per share, for a total transaction of $39,300.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Oaktree Capital Management Lp bought 162,900 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were bought at an average price of $7.75 per share, with a total value of $1,262,475.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 317,670 shares of company stock valued at $2,462,607. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new stake in shares of Oaktree Strategic Income during the 4th quarter valued at $119,000. Millennium Management LLC bought a new stake in shares of Oaktree Strategic Income during the 4th quarter worth $133,000. BB&T Securities LLC bought a new stake in shares of Oaktree Strategic Income during the 4th quarter worth $147,000. Guggenheim Capital LLC bought a new stake in shares of Oaktree Strategic Income during the 4th quarter worth $152,000. Finally, Mariner Investment Group LLC bought a new stake in shares of Oaktree Strategic Income during the 4th quarter worth $170,000. Hedge funds and other institutional investors own 27.02% of the company’s stock.
About Oaktree Strategic Income
Oaktree Strategic Income Corporation, formerly Fifth Street Senior Floating Rate Corp., is a closed-end, non-diversified management investment company. The Company operates as a specialty finance company. The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments while seeking to preserve its capital.
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