OFS Credit Company Inc Price, Forecast, Insider, Ratings, Fundamentals & Signals

Chicago--(business wire)--ofs credit company, inc. (nasdaq: occi) (“ofs credit”, the “company”, “we”, “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“clo”) equity and debt securities, today announced the following net asset value (“nav”) estimate as of march 31, 2024. management's unaudited estimate of the range of our nav per share of our common stock as of march 31, 2024 is between $7.42 and $7.52. this estimate is not a comprehensive statement.

Chicago--(business wire)--ofs credit company, inc. (nasdaq: occi) (“ofs credit”, the “company”, “we”, “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“clo”) equity and debt securities, today announced the following net asset value (“nav”) estimate as of february 29, 2024. management's unaudited estimate of the range of our nav per share of our common stock as of february 29, 2024 is between $7.48 and $7.58. this estimate is not a comprehensive sta.

Chicago--(business wire)--ofs credit company, inc. (nasdaq: occi) (“ofs credit,” the “company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“clo”) equity and debt securities, today announced its financial results for the fiscal quarter ended january 31, 2024. first quarter highlights net investment income (“nii”) of $4.6 million, or $0.29 per common share, for the fiscal quarter ended january 31, 2024. this compares to nii of $5.3 millio.

Chicago--(business wire)--ofs credit company, inc. (nasdaq: occi) (“ofs credit,” the “company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“clo”) equity and debt securities, today announced the following net asset value (“nav”) estimate as of january 31, 2024. management's unaudited estimate of the range of our nav per share of our common stock as of january 31, 2024 is between $7.63 and $7.73. this estimate is not a comprehensive state.

Chicago--(business wire)--ofs credit company, inc. (nasdaq: occi) (“ofs credit,” the “company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“clo”) equity and debt securities, today announced that, on february 1, 2024, its board of directors (the “board”) declared monthly cash distributions for common stockholders for each of the three months in the quarter ending april 30, 2024. the board has also declared monthly cash distributions for.

OCCI is a Nasdaq-listed closed-end fund that primarily invests in Collateralized Loan Obligation equity and debt securities. The fund has a history of high distributions, but negative total returns on NAV over 1, 3, and 5 years. We look at the current 16% yield in context of the fund's history and current holdings.

We review CEF market valuation and performance through the third week of January and highlight recent market action. Most CEF sectors were down for the week, except for covered calls and loans, which saw small gains. CEF activists like Saba, Karpus, and Bulldog hold sizable CEF positions to push for shareholder-friendly actions and tighter discounts. We track their holdings.

OFS Credit Company is a small CEF that invests in CLO structures primarily associated with equity lever. Since the IPO back in 2018, OCCI has delivered relatively flat returns, where the dividend component has compensated for ~50% decline in NAV. In this article, I outline several reasons why OCCI is an inherently speculative bet and why the current dividend of 17% is not attractive enough to justify the underlying risk profile.

Equity and fixed-income markets had another strong month in December, driven by continuing retreating risk-free Treasury rates. We even saw an improvement in the breadth of the overall market, with broader participation lifting some of the beaten-down sectors for the year. That said, closed-end fund discounts remain historically wide, and that continues to drive opportunity in the CEF wrapper.

OFS Credit Co (NASDAQ: OCCI ) just reported results for the fourth quarter of 2023. OFS Credit Co reported earnings per share of 62 cents.

OFS Credit Company Inc is a collateralized loan obligation fund that focuses on CLO equity. The old stock-based distribution policy was not inherently negative. New cash-based distribution policy is better and should restore investor confidence in the fund.

We review CEF market valuation and performance through the third week of October and highlight recent market action. All CEF sector NAVs were down on the week, while only three sectors managed to tighten. Investor should not take CEF performance against benchmarks at face value.

We review the CLO Equity CEF sector, which got a new addition recently with CCIF. The sector's valuation has deflated recently, though most funds continue to trade at premiums. CLO Equity CEF returns have beaten nearly all other credit CEFs over the longer term; however, they lag the yields of the funds.

OCCI was a hard pass about a year back. The "yield" was a mouth-watering 20%, but the numbers that mattered more were eye watering. The yield is now up to 26%. "Surely you cannot go wrong here?"

OFS Credit is paying out a 25.6% yield to its shareholders from a portfolio of CLOs. The closed-end fund has lost more than half of its value since its 2018 IPO.