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

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

OFS Credit Price Performance

OCCI opened at $2.98 on Friday. The stock has a 50-day moving average price of $3.19 and a 200-day moving average price of $3.80. The firm has a market cap of $86.69 million, a PE ratio of -2.44 and a beta of 0.68. OFS Credit has a 1 year low of $2.62 and a 1 year high of $6.38.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings results on Monday, June 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.11). The firm had revenue of $9.20 million during the quarter, compared to analysts’ expectations of $11.16 million.

Institutional Investors Weigh In On OFS Credit

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of OFS Credit during the second quarter valued at approximately $26,000. TIAA Trust National Association purchased a new stake in shares of OFS Credit during the third quarter valued at $54,000. StoneX Group Inc. purchased a new stake in shares of OFS Credit during the fourth quarter valued at $55,000. Kestra Private Wealth Services LLC purchased a new stake in shares of OFS Credit during the third quarter valued at $56,000. Finally, Virtu Financial LLC purchased a new stake in shares of OFS Credit during the third quarter valued at $58,000. 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.