OFS Credit (NASDAQ:OCCI) Downgraded by Wall Street Zen to Hold

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

OFS Credit Stock Performance

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 firm has a market cap of $76.70 million, a P/E ratio of -13.16 and a beta of 0.59. The business’s fifty day moving average is $4.82 and its 200-day moving average is $5.32.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings data on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $11.97 million for the quarter, compared to analyst estimates 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 company 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. This represents a c) annualized dividend and a yield of 28.3%. The ex-dividend date is Friday, February 13th. OFS Credit’s payout ratio is currently -372.97%.

Hedge Funds Weigh In On OFS Credit

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in OFS Credit in the second quarter valued at about $26,000. TIAA Trust National Association acquired a new stake in shares of OFS Credit in the 3rd quarter valued at approximately $54,000. Kestra Private Wealth Services LLC bought a new stake in shares of OFS Credit during the 3rd quarter valued at approximately $56,000. Virtu Financial LLC acquired a new position in OFS Credit during the 3rd quarter worth approximately $58,000. Finally, One Capital Management LLC bought a new position in OFS Credit in the 3rd quarter valued at approximately $58,000. 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.