OFS Credit (NASDAQ:OCCI) Trading Down 1.1% – Here’s What Happened

OFS Credit Company, Inc. (NASDAQ:OCCI) fell 1.1% during trading on Monday . The stock traded as low as $2.61 and last traded at $2.64. Approximately 167,689 shares were traded during trading, a decline of 31% from the average daily volume of 243,733 shares. The stock had previously closed at $2.67.

Analyst Ratings Changes

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 Stock Down 1.1%

The firm has a market cap of $77.54 million, a PE ratio of -2.16 and a beta of 0.71. The stock has a 50 day moving average price of $3.03 and a two-hundred day moving average price of $3.46.

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

OFS Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 22.7%. OFS Credit’s dividend payout ratio (DPR) is currently -91.80%.

Institutional Investors Weigh In On OFS Credit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC lifted its stake in shares of OFS Credit by 12.1% in the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock valued at $268,000 after purchasing an additional 10,000 shares during the period. Virtus Investment Advisers LLC increased 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 worth $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of OFS Credit during the 4th quarter worth about $62,000. StoneX Group Inc. acquired a new position in shares of OFS Credit during the 4th quarter worth about $55,000. Finally, Kestra Private Wealth Services LLC purchased a new position in OFS Credit in the 3rd quarter valued at about $56,000. 23.77% of the stock is owned by institutional investors and hedge funds.

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.