OFS Credit (NASDAQ:OCCI) Trading Down 1.1% – Time to Sell?

OFS Credit Company, Inc. (NASDAQ:OCCI)’s share price was down 1.1% during trading on Monday . The company traded as low as $2.61 and last traded at $2.64. Approximately 167,689 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 243,733 shares. The stock had previously closed at $2.67.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of OFS Credit from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st.

OFS Credit Stock Performance

The stock has a 50 day moving average of $3.01 and a 200 day moving average of $3.45. The stock has a market capitalization of $74.45 million, a P/E ratio of -2.08 and a beta of 0.71.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $9.20 million for the quarter.

OFS Credit Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 23.7%. OFS Credit’s dividend payout ratio (DPR) is presently -91.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OCCI. Virtus Investment Advisers LLC raised its stake in shares of OFS Credit by 0.9% during 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. Kestra Advisory Services LLC raised its position in shares of 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 buying an additional 20,238 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of OFS Credit during the 4th quarter worth about $62,000. Osaic Holdings Inc. lifted its stake in shares of OFS Credit by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock worth $67,000 after acquiring an additional 4,100 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of OFS Credit in the first quarter valued at approximately $385,000. Institutional investors and hedge funds own 23.77% of the company’s stock.

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.