Brokerages Set $18.50 Target Price for OFS Credit Company Inc (OCCI)

Shares of OFS Credit Company Inc (NASDAQ:OCCI) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus target price of $18.50 for the company, according to Zacks. Zacks has also given OFS Credit an industry rank of 26 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research raised OFS Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thomas J. Herzfeld Advisors Inc. boosted its position 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 valued at $5,417,000 after purchasing an additional 18,661 shares during the last quarter. Coastal Investment Advisors Inc. acquired a new stake in shares of OFS Credit in the first quarter valued at approximately $281,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of OFS Credit in the first quarter valued at approximately $34,000. 20.90% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:OCCI traded up $0.04 during midday trading on Thursday, reaching $18.19. 4,562 shares of the stock traded hands, compared to its average volume of 11,318. OFS Credit has a 12-month low of $13.75 and a 12-month high of $19.00.

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 24th will be given a dividend of $0.167 per share. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $2.00 annualized dividend and a yield of 11.01%.

About OFS Credit

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

Further Reading: Debt-To-Equity Ratio

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