OFS Credit (OCCI) Projected to Announce Earnings on Friday

OFS Credit (NASDAQ:OCCI) is projected to post its results before the market opens on Friday, September 11th. Analysts expect the company to post earnings of $0.23 per share and revenue of $9.4170 million for the quarter.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.19 earnings per share for the quarter. The business had revenue of $9.20 million during the quarter.

OFS Credit Price Performance

NASDAQ:OCCI opened at $2.59 on Wednesday. OFS Credit has a fifty-two week low of $2.15 and a fifty-two week high of $6.14. The stock has a market cap of $76.07 million, a PE ratio of -2.12 and a beta of 0.72. The firm’s fifty day simple moving average is $2.52 and its 200-day simple moving average is $2.85.

OFS Credit Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 23.2%. The ex-dividend date of this dividend is Thursday, October 15th. OFS Credit’s payout ratio is -75.41%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded OFS Credit from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st.

Hedge Funds Weigh In On OFS Credit

Several hedge funds and other institutional investors have recently modified their holdings of OCCI. Virtus Investment Advisers LLC lifted its position in shares of 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 buying an additional 3,796 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in OFS Credit by 32.3% in the fourth 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 last quarter. Osaic Holdings Inc. boosted 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 period. Jane Street Group LLC bought a new position in shares of OFS Credit during the first quarter valued at approximately $385,000. Finally, NewEdge Advisors LLC raised its position in shares of OFS Credit by 21.6% during the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after purchasing an additional 3,138 shares during the period. 23.77% of the stock is 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.