OFS Credit (NASDAQ:OCCI) Announces Earnings Results, Misses Expectations By $0.11 EPS

OFS Credit (NASDAQ:OCCI) released its quarterly earnings data on Tuesday. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.11), Zacks reports.

OFS Credit Stock Down 0.5%

Shares of OCCI stock traded down $0.02 on Tuesday, hitting $3.26. The company had a trading volume of 14,616 shares, compared to its average volume of 344,842. OFS Credit has a twelve month low of $2.62 and a twelve month high of $6.43. The firm has a market cap of $94.69 million, a P/E ratio of -2.48 and a beta of 0.68. The company has a 50-day moving average price of $3.18 and a 200-day moving average price of $3.84.

OFS Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 18.4%. OFS Credit’s dividend payout ratio (DPR) is presently -90.08%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Virtus Investment Advisers LLC boosted its position in OFS Credit by 0.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of OFS Credit by 32.3% in the 4th quarter. Kestra Advisory Services LLC now owns 82,856 shares of the company’s stock valued at $401,000 after purchasing an additional 20,238 shares during the period. Jane Street Group LLC acquired a new position in shares of OFS Credit in the 1st quarter valued at $385,000. NewEdge Advisors LLC boosted its holdings in OFS Credit by 21.6% during the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after buying an additional 3,138 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in OFS Credit during the fourth quarter worth $62,000. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

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.