OFS Credit (NASDAQ:OCCI) Issues Quarterly Earnings Results

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 Trading Down 0.3%

Shares of OCCI stock opened at $3.26 on Tuesday. The stock has a 50 day moving average of $3.18 and a 200 day moving average of $3.84. The stock has a market cap of $94.83 million, a P/E ratio of -2.49 and a beta of 0.68. OFS Credit has a twelve month low of $2.62 and a twelve month high of $6.43.

OFS Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 18.4%. The ex-dividend date of this dividend is Wednesday, July 15th. OFS Credit’s dividend payout ratio (DPR) is -90.08%.

Hedge Funds Weigh In On OFS Credit

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of OFS Credit in the 2nd quarter valued at $26,000. Kestra Private Wealth Services LLC acquired a new stake in OFS Credit during the third quarter valued at $56,000. One Capital Management LLC purchased a new position in OFS Credit in the third quarter valued at $58,000. Virtu Financial LLC acquired a new stake in shares of OFS Credit during the 3rd quarter valued at about $58,000. Finally, Osaic Holdings Inc. grew its position in shares of OFS Credit by 61.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after acquiring an additional 4,100 shares during the period. 23.77% of the stock is 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.