Zacks Investment Research Upgrades Oaktree Strategic Income (NASDAQ:OCSI) to “Buy”
Zacks Investment Research upgraded shares of Oaktree Strategic Income (NASDAQ:OCSI) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. Zacks Investment Research currently has $9.25 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 raised Oaktree Strategic Income from a c rating to a b- rating in a report on Monday, July 15th.
Oaktree Strategic Income (NASDAQ:OCSI) last released its earnings results on Wednesday, August 7th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Oaktree Strategic Income had a return on equity of 7.52% and a net margin of 23.60%. The company had revenue of $13.81 million during the quarter, compared to the consensus estimate of $12.67 million. Equities analysts anticipate that Oaktree Strategic Income will post 0.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date is Thursday, September 12th. Oaktree Strategic Income’s dividend payout ratio (DPR) is currently 92.54%.
In other Oaktree Strategic Income news, major shareholder Leonard M. Tannenbaum sold 12,845 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $8.51, for a total value of $109,310.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in OCSI. Partnervest Advisory Services LLC purchased a new position in shares of Oaktree Strategic Income in the second quarter valued at $131,000. Deutsche Bank AG purchased a new position in shares of Oaktree Strategic Income in the fourth quarter valued at $156,000. Arcadia Investment Management Corp MI increased its position in shares of Oaktree Strategic Income by 100.0% in the first quarter. Arcadia Investment Management Corp MI now owns 20,000 shares of the company’s stock valued at $162,000 after buying an additional 10,000 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Oaktree Strategic Income by 44.9% in the first quarter. Acadian Asset Management LLC now owns 120,871 shares of the company’s stock valued at $980,000 after buying an additional 37,468 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Oaktree Strategic Income by 939.9% in the first quarter. Lindbrook Capital LLC now owns 197,584 shares of the company’s stock valued at $1,600,000 after buying an additional 178,584 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.
About Oaktree Strategic Income
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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