OFS Credit (NASDAQ:OCCI) Rating Lowered to “Hold” at Wall Street Zen

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

OFS Credit Trading Up 0.2%

NASDAQ:OCCI opened at $4.87 on Friday. OFS Credit has a 1-year low of $4.31 and a 1-year high of $7.32. The firm has a market capitalization of $76.70 million, a price-to-earnings ratio of -13.16 and a beta of 0.59. The business’s 50-day moving average price is $4.82 and its two-hundred day moving average price is $5.31.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $11.97 million during the quarter, compared to the consensus estimate of $12.77 million. Sell-side analysts predict that OFS Credit will post 0.89 earnings per share for the current year.

Institutional Trading of OFS Credit

A number of large investors have recently made changes to their positions in OCCI. NewEdge Advisors LLC lifted its holdings in OFS Credit by 21.6% during the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after acquiring an additional 3,138 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of OFS Credit during the first quarter worth about $385,000. MinichMacGregor Wealth Management LLC bought a new position in shares of OFS Credit during the 2nd quarter valued at about $73,000. Naviter Wealth LLC bought a new position in shares of OFS Credit during the 2nd quarter valued at about $128,000. Finally, Prospera Financial Services Inc acquired a new position in shares of OFS Credit in the 2nd quarter valued at approximately $74,000. 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.