Oaktree Strategic Income (NASDAQ:OCSI) Cut to Sell at Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of Oaktree Strategic Income (NASDAQ:OCSI) from a hold rating to a sell rating in a report released on Tuesday morning, 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. “

Separately, TheStreet lowered shares of Oaktree Strategic Income from a b- rating to a c rating in a research note on Wednesday, December 11th.

OCSI stock opened at $8.40 on Tuesday. Oaktree Strategic Income has a twelve month low of $7.54 and a twelve month high of $8.81. The stock has a market capitalization of $246.64 million, a price-to-earnings ratio of 9.44 and a beta of 0.55. The firm’s fifty day simple moving average is $8.29 and its two-hundred day simple moving average is $8.23.

Oaktree Strategic Income (NASDAQ:OCSI) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Oaktree Strategic Income had a net margin of 52.65% and a return on equity of 7.35%. The firm had revenue of $11.60 million for the quarter, compared to the consensus estimate of $12.19 million. Equities research analysts forecast that Oaktree Strategic Income will post 0.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Thursday, March 12th. Oaktree Strategic Income’s dividend payout ratio is currently 86.11%.

In related news, major shareholder Leonard M. Tannenbaum sold 6,087 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.35, for a total value of $50,826.45. Following the completion of the sale, the insider now directly owns 5,080,543 shares of the company’s stock, valued at $42,422,534.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Armen Panossian acquired 6,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average cost of $8.25 per share, with a total value of $49,500.00. Following the completion of the purchase, the chief executive officer now owns 6,000 shares of the company’s stock, valued at $49,500. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 11,000 shares of company stock valued at $90,720 and have sold 29,789 shares valued at $226,586. 0.65% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in OCSI. Morgan Stanley grew its position in Oaktree Strategic Income by 1.3% in the 2nd quarter. Morgan Stanley now owns 325,975 shares of the company’s stock valued at $2,768,000 after acquiring an additional 4,110 shares in the last quarter. Royal Bank of Canada grew its position in Oaktree Strategic Income by 513.1% in the 2nd quarter. Royal Bank of Canada now owns 7,461 shares of the company’s stock valued at $63,000 after acquiring an additional 6,244 shares in the last quarter. Lindbrook Capital LLC grew its position in Oaktree Strategic Income by 95.5% in the 3rd quarter. Lindbrook Capital LLC now owns 496,493 shares of the company’s stock valued at $4,096,000 after acquiring an additional 242,490 shares in the last quarter. California Public Employees Retirement System grew its position in Oaktree Strategic Income by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 65,400 shares of the company’s stock valued at $540,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in Oaktree Strategic Income in the 4th quarter valued at about $296,000. 33.97% of the stock is owned by 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.

Recommended Story: How Investors Can Profit from Options Trading

Get a free copy of the Zacks research report on Oaktree Strategic Income (OCSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Oaktree Strategic Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Strategic Income and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Jack in the Box  Rating Increased to Outperform at Cowen
Jack in the Box Rating Increased to Outperform at Cowen
Alteryx  Price Target Increased to $151.00 by Analysts at Needham & Company LLC
Alteryx Price Target Increased to $151.00 by Analysts at Needham & Company LLC
Oxford Industries  Lifted to Hold at Zacks Investment Research
Oxford Industries Lifted to Hold at Zacks Investment Research
Oaktree Strategic Income  Cut to Sell at Zacks Investment Research
Oaktree Strategic Income Cut to Sell at Zacks Investment Research
Intellia Therapeutics  Downgraded by Zacks Investment Research to Sell
Intellia Therapeutics Downgraded by Zacks Investment Research to Sell
Candriam Luxembourg S.C.A. Has $4.60 Million Stock Holdings in iShares MSCI Canada ETF
Candriam Luxembourg S.C.A. Has $4.60 Million Stock Holdings in iShares MSCI Canada ETF


 
© 2006-2020 Zolmax.