Oaktree Strategic Income (OCSI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Oaktree Strategic Income (NASDAQ:OCSI) have received an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $9.25.

Several brokerages have recently weighed in on OCSI. Zacks Investment Research cut shares of Oaktree Strategic Income from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. ValuEngine cut shares of Oaktree Strategic Income from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.

Shares of Oaktree Strategic Income traded down $0.01, hitting $8.44, during trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 26,375 shares, compared to its average volume of 75,887. Oaktree Strategic Income has a 12 month low of $8.36 and a 12 month high of $8.39. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $250.47 million, a PE ratio of 11.11 and a beta of 0.25.

Oaktree Strategic Income (NASDAQ:OCSI) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Oaktree Strategic Income had a negative net margin of 8.28% and a positive return on equity of 6.91%. The firm had revenue of $10.56 million for the quarter. analysts expect that Oaktree Strategic Income will post 0.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Thursday, June 14th. This is a boost from Oaktree Strategic Income’s previous quarterly dividend of $0.14. Oaktree Strategic Income’s dividend payout ratio is 73.68%.

In other news, major shareholder Oaktree Capital Management Lp bought 47,400 shares of Oaktree Strategic Income stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $7.73 per share, with a total value of $366,402.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Leonard M. Tannenbaum sold 4,584 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $8.50, for a total transaction of $38,964.00. The disclosure for this sale can be found here. Insiders purchased a total of 315,050 shares of company stock valued at $2,442,512 over the last three months. 0.35% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in Oaktree Strategic Income by 46.0% in the 1st quarter. Millennium Management LLC now owns 23,126 shares of the company’s stock worth $182,000 after acquiring an additional 7,281 shares in the last quarter. Springhouse Capital Management LP increased its holdings in Oaktree Strategic Income by 41.5% in the 1st quarter. Springhouse Capital Management LP now owns 1,184,891 shares of the company’s stock worth $9,349,000 after acquiring an additional 347,281 shares in the last quarter. Oaktree Capital Management LP increased its holdings in Oaktree Strategic Income by 580.6% in the 1st quarter. Oaktree Capital Management LP now owns 392,000 shares of the company’s stock worth $3,093,000 after acquiring an additional 334,400 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in Oaktree Strategic Income by 67.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 240,329 shares of the company’s stock worth $1,896,000 after acquiring an additional 96,969 shares in the last quarter. Finally, BB&T Securities LLC increased its holdings in Oaktree Strategic Income by 376.0% in the 1st quarter. BB&T Securities LLC now owns 83,300 shares of the company’s stock worth $657,000 after acquiring an additional 65,800 shares in the last quarter. 26.59% of the stock is owned by institutional investors.

Oaktree Strategic Income Company Profile

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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