OFS Credit (NASDAQ:OCCI) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Key Points

• OFS Credit (NASDAQ:OCCI) reported a quarterly earnings per share (EPS) of $0.31 and saw its stock rise by 2.2% following the announcement.
• The company declared a monthly dividend of $0.115, which reflects an annualized yield of 22.5% despite a very high dividend payout ratio of 811.76%.
• Various hedge funds have increased their stakes in OFS Credit, indicating growing institutional interest, with 23.77% of the stock now owned by institutional investors.

OFS Credit (NASDAQ:OCCI - Get Free Report) released its quarterly earnings results on Friday. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.07), Zacks reports. The firm had revenue of $12.05 million during the quarter, compared to analyst estimates of $12.05 million.

OFS Credit Stock Performance

Shares of NASDAQ:OCCI traded down $0.09 during midday trading on Wednesday, hitting $5.84. 277,473 shares of the stock were exchanged, compared to its average volume of 312,949. OFS Credit has a 52-week low of $5.26 and a 52-week high of $7.78. The business's fifty day simple moving average is $5.95 and its two-hundred day simple moving average is $6.26. The company has a market capitalization of $91.98 million, a PE ratio of 24.33 and a beta of 0.71.

OFS Credit Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.115 per share. The ex-dividend date was Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 23.6%. OFS Credit's dividend payout ratio (DPR) is 625.00%.

Institutional Trading of OFS Credit

Several institutional investors and hedge funds have recently made changes to their positions in OCCI. Raymond James Financial Inc. acquired a new position in shares of OFS Credit during the 2nd quarter worth about $26,000. Osaic Holdings Inc. increased its stake in OFS Credit by 61.3% in the second quarter. Osaic Holdings Inc. now owns 10,783 shares of the company's stock valued at $67,000 after acquiring an additional 4,100 shares during the last quarter. NewEdge Advisors LLC boosted its position in OFS Credit by 21.6% in the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company's stock valued at $108,000 after buying an additional 3,138 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in OFS Credit in the first quarter valued at approximately $385,000. Institutional investors own 23.77% of the company's stock.

OFS Credit Company Profile

OFS Credit Company, Inc is a fund of OFS Advisor.