OFS Credit (NASDAQ:OCCI) Stock Price Down 0.3% – Should You Sell?

OFS Credit Company, Inc. (NASDAQ:OCCI)’s stock price was down 0.3% during mid-day trading on Wednesday . The company traded as low as $3.33 and last traded at $3.34. Approximately 182,430 shares changed hands during trading, a decline of 40% from the average daily volume of 303,283 shares. The stock had previously closed at $3.35.

Analysts Set New Price Targets

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

OFS Credit Price Performance

The business has a fifty day moving average of $3.12 and a 200-day moving average of $3.91. The stock has a market capitalization of $97.45 million, a price-to-earnings ratio of -2.56 and a beta of 0.66.

OFS Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 17.9%. OFS Credit’s dividend payout ratio (DPR) is currently -90.08%.

Hedge Funds Weigh In On OFS Credit

A number of institutional investors have recently bought and sold shares of OCCI. Raymond James Financial Inc. purchased a new position in OFS Credit in the 2nd quarter worth about $26,000. TIAA Trust National Association purchased a new position in OFS Credit in the 3rd quarter worth about $54,000. StoneX Group Inc. purchased a new position in OFS Credit in the 4th quarter worth about $55,000. Kestra Private Wealth Services LLC purchased a new position in OFS Credit in the 3rd quarter worth about $56,000. Finally, Virtu Financial LLC purchased a new position in OFS Credit in the 3rd quarter worth about $58,000. Hedge funds and other institutional investors 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.