Wall Street Zen Downgrades OFS Credit (NASDAQ:OCCI) to Sell

OFS Credit (NASDAQ:OCCI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

OFS Credit Price Performance

Shares of OFS Credit stock opened at $2.27 on Friday. OFS Credit has a 1 year low of $2.15 and a 1 year high of $5.63. The firm has a market cap of $66.67 million, a PE ratio of -1.30 and a beta of 0.72. The stock has a fifty day moving average price of $2.49 and a 200-day moving average price of $2.80.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings results on Thursday, September 17th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $9.42 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Solutions Group LLC purchased a new stake in shares of OFS Credit during the 2nd quarter worth approximately $49,000. Two Sigma Securities LLC purchased a new position in OFS Credit in the second quarter valued at approximately $40,000. Finally, Kestra Advisory Services LLC lifted 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 purchasing an additional 10,000 shares during the last quarter. 23.77% of the stock is owned by institutional investors.

OFS Credit Company Profile

OFS Credit Company, Inc is a closed-end investment company that seeks to generate current income and, to a lesser extent, capital appreciation by investing in collateralized loan obligations (CLOs). Its portfolio primarily consists of CLO equity and debt tranches, which are securities backed by pools of senior secured corporate loans.

The company’s investments generally provide exposure to corporate borrowers through the underlying loan portfolios rather than through direct lending by OFS Credit.