OFS Credit (NASDAQ:OCCI) Stock Rating Lowered by Wall Street Zen

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

OFS Credit Trading Down 6.3%

Shares of OCCI stock opened at $4.59 on Friday. OFS Credit has a 12 month low of $4.31 and a 12 month high of $7.32. The stock has a market cap of $72.29 million, a P/E ratio of -12.41 and a beta of 0.59. The company has a 50 day simple moving average of $4.86 and a two-hundred day simple moving average of $5.27.

OFS Credit (NASDAQ:OCCI) last issued 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 analyst estimates of $12.77 million. As a group, equities analysts forecast that OFS Credit will post 0.89 earnings per share for the current year.

Institutional Trading of OFS Credit

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCCI. Raymond James Financial Inc. purchased a new stake in OFS Credit in the 2nd quarter worth about $26,000. TIAA Trust National Association purchased a new position in shares of OFS Credit during the third quarter valued at approximately $54,000. Kestra Private Wealth Services LLC purchased a new stake in shares of OFS Credit in the third quarter worth approximately $56,000. Virtu Financial LLC purchased a new stake in shares of OFS Credit in the third quarter worth approximately $58,000. Finally, One Capital Management LLC bought a new stake in shares of OFS Credit during the 3rd quarter worth approximately $58,000. Institutional investors own 23.77% of the company’s stock.

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.