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 Oaktree Strategic Income from a b- rating to a c rating in a report on Wednesday, December 11th.
OCSI opened at $8.40 on Tuesday. The firm has a market cap of $246.64 million, a price-to-earnings ratio of 9.44 and a beta of 0.55. Oaktree Strategic Income has a 52 week low of $7.54 and a 52 week high of $8.81. The business’s 50 day moving average is $8.29 and its two-hundred day moving average is $8.23.
Oaktree Strategic Income (NASDAQ:OCSI) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $11.60 million for the quarter, compared to analyst estimates of $12.19 million. Oaktree Strategic Income had a return on equity of 7.35% and a net margin of 52.65%. On average, sell-side analysts predict 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 issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date is Thursday, March 12th. Oaktree Strategic Income’s payout ratio is currently 86.11%.
In other news, major shareholder Leonard M. Tannenbaum sold 5,631 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $8.36, for a total value of $47,075.16. Following the transaction, the insider now owns 5,080,543 shares of the company’s stock, valued at $42,473,339.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Leonard M. Tannenbaum sold 6,087 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 5,080,543 shares in the company, valued at approximately $42,422,534.05. The disclosure for this sale can be found here. In the last three months, insiders bought 11,000 shares of company stock worth $90,720 and sold 29,789 shares worth $226,586. Insiders own 0.65% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OCSI. Morgan Stanley grew its holdings in Oaktree Strategic Income by 1.3% during the second quarter. Morgan Stanley now owns 325,975 shares of the company’s stock worth $2,768,000 after acquiring an additional 4,110 shares during the period. Royal Bank of Canada grew its holdings in Oaktree Strategic Income by 513.1% during the second quarter. Royal Bank of Canada now owns 7,461 shares of the company’s stock worth $63,000 after acquiring an additional 6,244 shares during the period. Lindbrook Capital LLC grew its holdings in Oaktree Strategic Income by 95.5% during the third quarter. Lindbrook Capital LLC now owns 496,493 shares of the company’s stock worth $4,096,000 after acquiring an additional 242,490 shares during the period. California Public Employees Retirement System boosted its position in Oaktree Strategic Income by 5.8% during the third quarter. California Public Employees Retirement System now owns 65,400 shares of the company’s stock worth $540,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in Oaktree Strategic Income during the fourth quarter worth $296,000. 33.97% of the stock is currently owned by institutional investors and hedge funds.
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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