OFS Credit (NASDAQ:OCCI) Shares Down 4% – What’s Next?

OFS Credit Company, Inc. (NASDAQ:OCCI)’s stock price traded down 4% during mid-day trading on Friday . The stock traded as low as $2.88 and last traded at $2.88. 166,155 shares traded hands during trading, a decline of 50% from the average session volume of 334,459 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

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

OFS Credit Trading Down 4.0%

The company has a market cap of $83.78 million, a PE ratio of -2.20 and a beta of 0.63. The firm’s 50-day simple moving average is $3.63 and its two-hundred day simple moving average is $4.54.

OFS Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 20.8%. OFS Credit’s dividend payout ratio (DPR) is -100.76%.

Institutional Trading of OFS Credit

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of OFS Credit in the second quarter worth about $26,000. TIAA Trust National Association purchased a new stake in shares of OFS Credit in the 3rd quarter valued at $54,000. StoneX Group Inc. purchased a new position in shares of OFS Credit during the fourth quarter worth $55,000. Kestra Private Wealth Services LLC purchased a new stake in OFS Credit in the third quarter valued at $56,000. Finally, Virtu Financial LLC acquired a new position in shares of OFS Credit in the 3rd quarter valued at 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.