OFS Credit (NASDAQ:OCCI) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

OFS Credit (NASDAQ:OCCI) announced its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.11), Zacks reports.

OFS Credit Stock Performance

Shares of NASDAQ OCCI opened at $3.17 on Wednesday. The stock has a market cap of $92.22 million, a PE ratio of -2.42 and a beta of 0.68. OFS Credit has a fifty-two week low of $2.62 and a fifty-two week high of $6.43. The stock has a fifty day moving average of $3.18 and a 200-day moving average of $3.83.

OFS Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $0.05 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 18.9%. OFS Credit’s payout ratio is -90.08%.

Hedge Funds Weigh In On OFS Credit

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position 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 valued at $108,000 after purchasing an additional 3,138 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of OFS Credit by 32.3% in the fourth 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 in the last quarter. Virtus Investment Advisers LLC grew its position in shares of OFS Credit by 0.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock valued at $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Jane Street Group LLC bought a new stake in OFS Credit during the first quarter valued at $385,000. Finally, Osaic Holdings Inc. boosted its stake in OFS Credit by 61.3% during the second quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after buying an additional 4,100 shares during the period. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

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.