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

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

OFS Credit Trading Down 3.3%

OCCI stock opened at $4.44 on Friday. OFS Credit has a 12-month low of $4.31 and a 12-month high of $7.32. The business’s 50-day moving average is $4.85 and its 200 day moving average is $5.24. The stock has a market cap of $69.93 million, a price-to-earnings ratio of -12.00 and a beta of 0.59.

OFS Credit (NASDAQ:OCCI) last announced its earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $11.97 million during the quarter, compared to analyst estimates of $12.77 million. As a group, equities analysts forecast that OFS Credit will post 0.89 EPS for the current fiscal year.

OFS Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.115 per share. This represents a c) annualized dividend and a yield of 31.1%. The ex-dividend date of this dividend is Friday, February 13th. OFS Credit’s payout ratio is -402.70%.

Institutional Investors Weigh In On OFS Credit

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC lifted its stake in shares of OFS Credit by 21.6% in the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after buying an additional 3,138 shares in the last quarter. Jane Street Group LLC acquired a new stake in OFS Credit in the 1st quarter valued at about $385,000. Naviter Wealth LLC purchased a new position in OFS Credit in the 2nd quarter worth approximately $128,000. Prospera Financial Services Inc acquired a new position in shares of OFS Credit during the 2nd quarter worth approximately $74,000. Finally, Fisher Asset Management LLC acquired a new position in shares of OFS Credit during the 2nd quarter worth approximately $69,000. 23.77% of the stock is currently 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.