OFS Credit (NASDAQ:OCCI) Issues Earnings Results

OFS Credit (NASDAQ:OCCI) announced its earnings results on Monday. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19, Zacks reports. The firm had revenue of $9.20 million during the quarter, compared to the consensus estimate of $9.20 million.

OFS Credit Trading Up 2.8%

NASDAQ:OCCI opened at $2.53 on Wednesday. OFS Credit has a 12 month low of $2.42 and a 12 month high of $6.30. The firm has a fifty day simple moving average of $3.14 and a 200-day simple moving average of $3.68. The company has a market capitalization of $73.60 million, a P/E ratio of -2.07 and a beta of 0.68.

OFS Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 23.7%. OFS Credit’s dividend payout ratio (DPR) is currently -91.80%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of OFS Credit from a “sell” rating to a “hold” rating in a research report on Sunday.

Hedge Funds Weigh In On OFS Credit

Several hedge funds have recently made changes to their positions in OCCI. Virtus Investment Advisers LLC raised its stake in OFS Credit by 0.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after acquiring an additional 3,796 shares during the last quarter. Kestra Advisory Services LLC grew its stake in OFS Credit by 32.3% during the 4th quarter. Kestra Advisory Services LLC now owns 82,856 shares of the company’s stock valued at $401,000 after purchasing an additional 20,238 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in OFS Credit during the 4th quarter valued at about $62,000. StoneX Group Inc. acquired a new position in shares of OFS Credit in the fourth quarter valued at about $55,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of OFS Credit in the third quarter valued at about $56,000. 23.77% of the stock is owned by institutional investors and hedge funds.

OFS Credit Company Profile

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.