OFS Credit (NASDAQ:OCCI) Shares Down 1.1% – What’s Next?

OFS Credit Company, Inc. (NASDAQ:OCCI)’s share price fell 1.1% during trading on Monday . The company traded as low as $2.61 and last traded at $2.64. 167,689 shares changed hands during trading, a decline of 31% from the average daily volume of 243,733 shares. The stock had previously closed at $2.67.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded OFS Credit from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st.

OFS Credit Stock Down 1.1%

The business has a 50-day moving average price of $3.03 and a two-hundred day moving average price of $3.46. The firm has a market cap of $77.54 million, a PE ratio of -2.16 and a beta of 0.71.

OFS Credit (NASDAQ:OCCI) last released its earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share (EPS) for the quarter. The company had revenue of $9.20 million during the quarter.

OFS Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 22.7%. The ex-dividend date is Wednesday, July 15th. OFS Credit’s dividend payout ratio (DPR) is presently -91.80%.

Institutional Trading of OFS Credit

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in OFS Credit in the second quarter valued at approximately $26,000. StoneX Group Inc. acquired a new position in OFS Credit during the 4th quarter worth approximately $55,000. Kestra Private Wealth Services LLC purchased a new stake in shares of OFS Credit in the 3rd quarter valued at approximately $56,000. Virtu Financial LLC purchased a new stake in shares of OFS Credit in the 3rd quarter valued at approximately $58,000. Finally, One Capital Management LLC acquired a new stake in shares of OFS Credit in the 3rd quarter valued at $58,000. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.