OFS Credit (NASDAQ:OCCI) Downgraded by Wall Street Zen to “Hold”

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

OFS Credit Trading Down 6.3%

NASDAQ:OCCI opened at $4.59 on Friday. The company has a 50-day moving average price of $4.86 and a 200-day moving average price of $5.27. The stock has a market cap of $72.29 million, a price-to-earnings ratio of -12.41 and a beta of 0.59. OFS Credit has a 12 month low of $4.31 and a 12 month high of $7.32.

OFS Credit (NASDAQ:OCCI) last released its earnings results on Wednesday, December 10th. The company reported $0.32 EPS 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 forecast that OFS Credit will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in OFS Credit during the 1st quarter valued at $385,000. Naviter Wealth LLC bought a new stake in shares of OFS Credit in the second quarter worth $128,000. NewEdge Advisors LLC grew its holdings in shares of OFS Credit by 21.6% in the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after acquiring an additional 3,138 shares during the period. Arkadios Wealth Advisors purchased a new stake in OFS Credit during the third quarter valued at $66,000. Finally, Prospera Financial Services Inc bought a new position in OFS Credit in the second quarter valued at about $74,000. 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.