OFS Credit (NASDAQ:OCCI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of OFS Credit (NASDAQ:OCCI) from a hold rating to a buy rating in a research report report published on Monday morning.

OFS Credit Stock Performance

Shares of OCCI opened at $4.84 on Monday. OFS Credit has a 52 week low of $4.31 and a 52 week high of $7.35. The stock has a market capitalization of $76.23 million, a price-to-earnings ratio of -13.08 and a beta of 0.62. The stock has a fifty day moving average of $4.79 and a 200-day moving average of $5.46.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings data on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $11.97 million during the quarter, compared to analyst estimates of $12.77 million. As a group, equities analysts forecast that OFS Credit will post 0.89 EPS for the current year.

OFS Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 28.5%. OFS Credit’s dividend payout ratio (DPR) is presently -372.97%.

Institutional Trading of OFS Credit

A number of institutional investors and hedge funds have recently bought and sold shares of OCCI. Kestra Private Wealth Services LLC bought a new position in OFS Credit during the 3rd quarter worth $56,000. Virtu Financial LLC bought a new position in shares of OFS Credit during the third quarter worth about $58,000. One Capital Management LLC acquired a new position in shares of OFS Credit in the third quarter worth approximately $58,000. TIAA Trust National Association acquired a new position in shares of OFS Credit in the third quarter worth approximately $54,000. Finally, Arkadios Wealth Advisors bought a new stake in OFS Credit in the third quarter valued at approximately $66,000. 23.77% of the stock is currently owned by institutional investors and hedge funds.

About OFS Credit

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.