OFS Credit (NASDAQ:OCCI) Stock Price Down 4.5% – Here’s What Happened

OFS Credit Company, Inc. (NASDAQ:OCCI) shares were down 4.5% on Monday. The stock traded as low as $1.68 and last traded at $1.70. Approximately 341,184 shares traded hands during mid-day trading, an increase of 69% from the average session volume of 201,379 shares. The stock had previously closed at $1.78.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of OFS Credit from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th.

OFS Credit Stock Down 4.5%

The stock has a market cap of $49.93 million, a PE ratio of -0.97 and a beta of 0.76. The firm has a 50-day simple moving average of $2.38 and a 200-day simple moving average of $2.71.

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

OFS Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be paid a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 35.3%. The ex-dividend date is Friday, January 15th. OFS Credit’s payout ratio is presently -49.14%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC grew its holdings in OFS Credit by 12.1% during the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock valued at $268,000 after buying an additional 10,000 shares in the last quarter. Advisory Solutions Group LLC bought a new stake in shares of OFS Credit during the second quarter valued at about $49,000. Finally, Two Sigma Securities LLC bought a new stake in shares of OFS Credit during the second quarter valued at about $40,000. Institutional investors own 23.77% of the company’s stock.

OFS Credit Company Profile

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end investment company that seeks to generate current income and, to a lesser extent, capital appreciation through investments in collateralized loan obligations (CLOs). CLOs are investment vehicles that hold portfolios of primarily senior secured loans made to corporate borrowers.

The company generally invests in CLO equity and subordinated debt tranches, which can provide exposure to the cash flows generated by underlying loan portfolios.