OFS Credit (NASDAQ:OCCI) Stock Price Up 2% – Here’s What Happened

OFS Credit Company, Inc. (NASDAQ:OCCI)’s share price was up 2% during trading on Friday . The company traded as high as $2.55 and last traded at $2.55. Approximately 163,623 shares were traded during trading, a decline of 32% from the average daily volume of 242,353 shares. The stock had previously closed at $2.50.

Analysts Set New Price Targets

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

OFS Credit Trading Up 2.0%

The firm has a market cap of $74.90 million, a PE ratio of -2.09 and a beta of 0.72. The business has a fifty day moving average price of $2.65 and a 200 day moving average price of $3.15.

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

OFS Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 23.5%. The ex-dividend date is Friday, August 14th. OFS Credit’s payout ratio is currently -90.16%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC boosted its stake in OFS Credit by 12.1% in the first quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock valued at $268,000 after acquiring an additional 10,000 shares in the last quarter. Virtus Investment Advisers LLC increased its position 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 worth $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of OFS Credit in the 4th quarter valued at about $62,000. StoneX Group Inc. purchased a new stake in shares of OFS Credit in the 4th quarter valued at about $55,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of OFS Credit in the 3rd quarter valued at about $56,000. 23.77% of the stock is owned by hedge funds and other institutional investors.

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.