OFS Credit (NASDAQ:OCCI) Releases Earnings Results

OFS Credit (NASDAQ:OCCI) released its quarterly earnings data on Thursday. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04), Zacks reports. The firm had revenue of $10.98 million for the quarter, compared to analysts’ expectations of $13.70 million.

OFS Credit Price Performance

Shares of OCCI stock traded down $0.03 during trading hours on Friday, hitting $2.90. The company had a trading volume of 100,088 shares, compared to its average volume of 458,164. The stock has a market capitalization of $45.68 million, a PE ratio of -7.84 and a beta of 0.63. The company’s fifty day moving average is $4.27 and its 200 day moving average is $4.88. OFS Credit has a fifty-two week low of $2.83 and a fifty-two week high of $7.17.

OFS Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 20.7%. The ex-dividend date of this dividend is Wednesday, April 15th. OFS Credit’s payout ratio is -372.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut OFS Credit from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st.

Institutional Investors Weigh In On OFS Credit

Several institutional investors and hedge funds have recently modified their holdings of OCCI. Raymond James Financial Inc. purchased a new position in OFS Credit during the 2nd quarter valued at about $26,000. StoneX Group Inc. acquired a new stake in shares of OFS Credit during the fourth quarter worth about $55,000. Kestra Private Wealth Services LLC purchased a new position in shares of OFS Credit in the third quarter valued at approximately $56,000. Virtu Financial LLC purchased a new stake in OFS Credit during the 3rd quarter worth approximately $58,000. Finally, One Capital Management LLC acquired a new stake in OFS Credit during the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors own 23.77% of the company’s stock.

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.