OFS Credit (NASDAQ:OCCI) Rating Lowered to “Hold” at Wall Street Zen

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

OFS Credit Price Performance

Shares of OCCI stock opened at $4.87 on Friday. OFS Credit has a 1-year low of $4.31 and a 1-year high of $7.32. The firm has a market cap of $76.70 million, a PE ratio of -13.16 and a beta of 0.59. The company has a 50-day moving average of $4.82 and a two-hundred day moving average of $5.32.

OFS Credit (NASDAQ:OCCI) last posted its 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 company had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $12.77 million. Sell-side analysts anticipate that OFS Credit will post 0.89 EPS for the current fiscal year.

Institutional Trading of OFS Credit

A number of large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of OFS Credit in the second quarter valued at $26,000. TIAA Trust National Association purchased a new stake in OFS Credit during the 3rd quarter worth about $54,000. Kestra Private Wealth Services LLC acquired a new stake in OFS Credit in the 3rd quarter valued at about $56,000. Virtu Financial LLC purchased a new position in shares of OFS Credit in the 3rd quarter valued at about $58,000. Finally, One Capital Management LLC purchased a new position in shares of OFS Credit in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 23.77% of the company’s stock.

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.