OFS Credit (NASDAQ:OCCI) Cut to Hold at Wall Street Zen

OFS Credit (NASDAQ:OCCI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

OFS Credit Stock Up 0.2%

OFS Credit stock opened at $4.87 on Friday. The company has a fifty day simple moving average of $4.82 and a 200-day simple moving average of $5.32. The firm has a market capitalization of $76.70 million, a price-to-earnings ratio of -13.16 and a beta of 0.59. OFS Credit has a 52-week low of $4.31 and a 52-week high of $7.32.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $12.77 million. On average, research analysts anticipate that OFS Credit will post 0.89 EPS for the current fiscal year.

Institutional Trading of OFS Credit

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position 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 purchasing an additional 3,138 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of OFS Credit in the 1st quarter valued at approximately $385,000. MinichMacGregor Wealth Management LLC purchased a new stake in shares of OFS Credit in the 2nd quarter valued at approximately $73,000. Naviter Wealth LLC purchased a new stake in shares of OFS Credit during the 2nd quarter valued at approximately $128,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of OFS Credit during the 2nd quarter valued at approximately $74,000. 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.