Zacks Investment Research Upgrades OFS Credit (NASDAQ:OCCI) to Strong-Buy

Zacks Investment Research upgraded shares of OFS Credit (NASDAQ:OCCI) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday, Zacks.com reports. The firm currently has $20.00 price objective on the stock.

According to Zacks, “OFS Credit Company Inc. operates as a closed-end management investment company. It primarily focuses on investing in debt and subordinated securities; corporate credit investments including leveraged loans and high yield bonds; opportunistic credit investments. OFS Credit Company Inc. is based in Chicago, United States. “

OCCI traded down $0.25 on Thursday, hitting $17.35. 740 shares of the company were exchanged, compared to its average volume of 13,974. OFS Credit has a 12 month low of $13.75 and a 12 month high of $19.00. The stock’s fifty day moving average is $16.72 and its 200-day moving average is $17.57.

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a dividend of $0.167 per share. The ex-dividend date is Friday, September 20th. This represents a $2.00 annualized dividend and a yield of 11.55%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC bought a new stake in OFS Credit during the second quarter worth about $212,000. Susquehanna International Group LLP bought a new stake in OFS Credit during the second quarter worth about $222,000. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in OFS Credit by 6.6% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 303,497 shares of the company’s stock worth $5,417,000 after acquiring an additional 18,661 shares in the last quarter. Institutional investors and hedge funds own 20.08% of the company’s stock.

About OFS Credit

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

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