OFS Credit (NASDAQ:OCCI) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of OFS Credit (NASDAQ:OCCI) from a buy rating to a hold rating in a research note released on Friday.

OFS Credit Stock Performance

NASDAQ:OCCI opened at $4.87 on Friday. OFS Credit has a 52-week low of $4.31 and a 52-week high of $7.32. The stock has a 50-day simple moving average of $4.82 and a 200 day simple moving average of $5.31. The company has a market cap of $76.70 million, a PE ratio of -13.16 and a beta of 0.59.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $12.77 million. On average, research analysts predict that OFS Credit will post 0.89 earnings per share for the current fiscal year.

OFS Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.115 per share. The ex-dividend date is Friday, February 13th. This represents a c) annualized dividend and a yield of 28.3%. OFS Credit’s dividend payout ratio (DPR) is -372.97%.

Hedge Funds Weigh In On OFS Credit

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in OFS Credit during the first quarter worth approximately $385,000. Naviter Wealth LLC bought a new stake in OFS Credit during the 2nd quarter worth $128,000. NewEdge Advisors LLC raised its holdings in OFS Credit by 21.6% in the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock valued at $108,000 after buying an additional 3,138 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of OFS Credit during the third quarter worth $66,000. Finally, Prospera Financial Services Inc bought a new stake in shares of OFS Credit in the 2nd quarter valued at about $74,000. 23.77% of the stock is currently owned by institutional investors and hedge funds.

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.