OFS Credit (NASDAQ:OCCI) Posts Earnings Results

OFS Credit (NASDAQ:OCCI) issued its quarterly earnings results on Friday. The company reported $0.47 EPS for the quarter, reports. The firm had revenue of $7.45 million for the quarter.

OFS Credit Stock Up 0.8 %

Shares of OFS Credit stock opened at $7.64 on Monday. OFS Credit has a 52-week low of $5.47 and a 52-week high of $7.81. The company has a market capitalization of $120.32 million, a P/E ratio of 13.17 and a beta of 1.33. The company has a 50 day moving average of $7.33 and a 200 day moving average of $7.27.

OFS Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.38 dividend on an annualized basis and a dividend yield of 18.06%. OFS Credit’s payout ratio is 196.55%.

Insider Buying and Selling at OFS Credit

In other news, major shareholder Eagle Point Credit Management sold 1,038 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $24.16, for a total transaction of $25,078.08. Following the sale, the insider now owns 23,803 shares of the company’s stock, valued at approximately $575,080.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 13,785 shares of company stock valued at $334,657. Insiders own 2.76% of the company’s stock.

Hedge Funds Weigh In On OFS Credit

Several hedge funds have recently made changes to their positions in OCCI. Graypoint LLC boosted its holdings in shares of OFS Credit by 4.5% in the second quarter. Graypoint LLC now owns 124,991 shares of the company’s stock valued at $901,000 after acquiring an additional 5,409 shares during the period. B. Riley Wealth Advisors Inc. raised its position in OFS Credit by 51.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 22,386 shares of the company’s stock worth $171,000 after acquiring an additional 7,651 shares in the last quarter. Choreo LLC acquired a new position in shares of OFS Credit during the 1st quarter worth $738,000. Lindbrook Capital LLC lifted its stake in shares of OFS Credit by 81.7% in the first quarter. Lindbrook Capital LLC now owns 8,000 shares of the company’s stock valued at $57,000 after purchasing an additional 3,596 shares during the period. Finally, True North Advisors LLC acquired a new position in OFS Credit during the first quarter worth about $80,000. Hedge funds and other institutional investors own 23.77% of the company’s stock.

About OFS Credit

OFS Credit Company, Inc is a fund of OFS Advisor.