OFS Credit (NASDAQ:OCCI) Announces Quarterly Earnings Results

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

OFS Credit Stock Performance

OFS Credit stock traded down $0.03 during midday trading on Friday, reaching $2.90. The stock had a trading volume of 100,088 shares, compared to its average volume of 458,164. The stock’s 50-day simple moving average is $4.27 and its 200 day simple moving average is $4.88. OFS Credit has a twelve month low of $2.83 and a twelve month high of $7.17. The stock has a market capitalization of $45.68 million, a PE ratio of -7.84 and a beta of 0.63.

OFS Credit Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Trading of OFS Credit

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in OFS Credit during the first quarter valued at approximately $385,000. Kestra Advisory Services LLC boosted its position in OFS Credit by 32.3% during the 4th quarter. Kestra Advisory Services LLC now owns 82,856 shares of the company’s stock worth $401,000 after purchasing an additional 20,238 shares during the period. Commonwealth Equity Services LLC acquired a new stake in OFS Credit in the 4th quarter valued at $62,000. StoneX Group Inc. purchased a new position in OFS Credit in the fourth quarter valued at about $55,000. Finally, Virtu Financial LLC acquired a new position in shares of OFS Credit during the third quarter worth about $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.