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 issued to investors on Sunday morning.

OFS Credit Price Performance

Shares of OCCI opened at $4.76 on Friday. The stock’s fifty day simple moving average is $4.80 and its 200-day simple moving average is $5.52. The firm has a market capitalization of $74.97 million, a PE ratio of -12.86 and a beta of 0.62. OFS Credit has a 12-month low of $4.31 and a 12-month high of $7.35.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings data on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $11.97 million during the quarter, compared to analysts’ expectations of $12.77 million. Analysts anticipate that OFS Credit will post 0.89 EPS for the current year.

OFS Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a $0.115 dividend. This represents a c) annualized dividend and a yield of 29.0%. The ex-dividend date is Thursday, January 15th. OFS Credit’s dividend payout ratio is currently -372.97%.

Institutional Trading of OFS Credit

A number of institutional investors have recently bought and sold shares of OCCI. NewEdge Advisors LLC raised its position in shares of OFS Credit by 21.6% during the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock valued at $108,000 after acquiring an additional 3,138 shares during the last quarter. Jane Street Group LLC bought a new position in shares of OFS Credit in the 1st quarter worth $385,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of OFS Credit during the second quarter worth $73,000. Naviter Wealth LLC bought a new stake in OFS Credit in the second quarter valued at about $128,000. Finally, Prospera Financial Services Inc bought a new stake in OFS Credit in the second quarter valued at about $74,000. Institutional investors and hedge funds 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.