OFS Credit (NASDAQ:OCCI) Shares Up 2% - Time to Buy?

Key Points

• OFS Credit shares rose 2% to $2.55 in Friday trading, though volume was 32% below the average. Wall Street Zen upgraded the stock from “sell” to “hold.”
• The company reported quarterly EPS of $0.19 on $9.20 million in revenue, while its stock remains below both its 50-day and 200-day moving averages.
• OFS Credit declared a monthly dividend of $0.05 per share, implying a reported 23.5% annualized yield; institutional investors own 23.77% of the company.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report)'s stock price traded up 2% during trading on Friday . The stock traded as high as $2.55 and last traded at $2.55. Approximately 163,623 shares traded hands during trading, a decline of 32% from the average daily volume of 242,353 shares. The stock had previously closed at $2.50.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of OFS Credit from a "sell" rating to a "hold" rating in a report on Sunday, June 21st.

OFS Credit Price Performance

The stock has a market capitalization of $74.89 million, a PE ratio of -2.09 and a beta of 0.72. The company has a 50 day moving average price of $2.65 and a 200-day moving average price of $3.15.

OFS Credit (NASDAQ:OCCI - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $0.19 EPS for the quarter. The business had revenue of $9.20 million for the quarter.

OFS Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 14th. This represents a c) annualized dividend and a yield of 23.5%. OFS Credit's dividend payout ratio is -86.07%.

Institutional Investors Weigh In On OFS Credit

Large investors have recently modified their holdings of the stock. Virtus Investment Advisers LLC lifted its holdings in OFS Credit by 0.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company's stock worth $2,039,000 after buying an additional 3,796 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of OFS Credit by 32.3% during the 4th quarter. Kestra Advisory Services LLC now owns 82,856 shares of the company's stock worth $401,000 after acquiring an additional 20,238 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of OFS Credit in the 4th quarter worth approximately $62,000. Osaic Holdings Inc. raised its position in shares of OFS Credit by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company's stock worth $67,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of OFS Credit in the 1st quarter worth approximately $385,000. 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.

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