OFS Credit (NASDAQ:OCCI) Issues Quarterly Earnings Results

OFS Credit (NASDAQ:OCCI) issued 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%

NASDAQ:OCCI opened at $3.26 on Tuesday. The company’s 50 day moving average is $3.18 and its two-hundred day moving average is $3.84. The company has a market cap of $94.83 million, a PE 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. Shareholders of record on Wednesday, July 15th will be given 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 payout ratio is currently -90.08%.

Hedge Funds Weigh In On OFS Credit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in OFS Credit during the 2nd quarter worth about $26,000. StoneX Group Inc. purchased a new position in shares of OFS Credit in the fourth quarter worth about $55,000. Kestra Private Wealth Services LLC purchased a new position in shares of OFS Credit in the third quarter worth about $56,000. Virtu Financial LLC acquired a new stake in shares of OFS Credit during the third quarter worth about $58,000. Finally, One Capital Management LLC purchased a new stake in OFS Credit in the third quarter valued at approximately $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.