OFS Credit (NASDAQ:OCCI) Upgraded by Wall Street Zen to “Buy” Rating

OFS Credit (NASDAQ:OCCI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

OFS Credit Stock Up 0.2%

NASDAQ OCCI opened at $4.82 on Monday. The company has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $5.49. OFS Credit has a 12-month low of $4.31 and a 12-month high of $7.35. The firm has a market cap of $75.92 million, a price-to-earnings ratio of -13.03 and a beta of 0.62.

OFS Credit (NASDAQ:OCCI) last released its earnings results 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 firm had revenue of $11.97 million during the quarter, compared to the consensus estimate of $12.77 million. Equities analysts expect that OFS Credit will post 0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in OFS Credit during the 2nd quarter valued at $26,000. TIAA Trust National Association bought a new position in shares of OFS Credit during the third quarter valued at about $54,000. Kestra Private Wealth Services LLC bought a new position in shares of OFS Credit during the third quarter valued at about $56,000. Virtu Financial LLC purchased a new stake in shares of OFS Credit during the third quarter worth about $58,000. Finally, One Capital Management LLC bought a new stake in shares of OFS Credit in the third quarter worth about $58,000. 23.77% of the stock is 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.