Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both entities with significant holdings in OFS Credit Company, Inc. (NASDAQ:OCCI), reported a sale of preferred stock in the company. According to the latest SEC filings, the entities sold 6.125% Series C Term Preferred Stock due 2026 for a total amount of approximately $14,500.
The transaction, dated July 15, 2024, involved the sale of 596 shares at a price of $24.32 per share. Following the sale, the entities still hold a significant number of shares in OFS Credit Company, with 22,281 shares of the same series remaining.
It is important to note that the shares sold are directly held by private investment funds managed by Eagle Point Credit Management LLC. Eagle Point DIF GP I LLC serves as the general partner to certain applicable funds. Both managing entities could be deemed to have an indirect pecuniary interest in the securities reported herein.
The reporting entities have disclaimed beneficial ownership of the securities described in the report, emphasizing that the inclusion of these securities in this report is not an admission of beneficial ownership for any purpose.
Investors and market watchers often look to such filings to gauge insider sentiment and potential future moves by company stakeholders. The sale of preferred stock by entities associated with Eagle Point Credit Management LLC may be of interest to those following OFS Credit Company's financial dynamics and stock performance.
InvestingPro Insights
Amid the recent sale of preferred stock by significant stakeholders in OFS Credit Company, Inc. (NASDAQ:OCCI), investors may find it valuable to consider key financial metrics and insights provided by InvestingPro. OFS Credit Company's market capitalization stands at a modest $122.92 million, which could suggest a tighter market compared to larger entities. The company's P/E ratio is currently at 13.91, which may indicate a potentially attractive valuation relative to earnings.
From a revenue standpoint, OFS Credit Company has demonstrated growth, with a 14.19% increase in revenue over the last twelve months as of Q2 2024. This growth is further reflected in the company's quarterly revenue growth of 12.22% in Q2 2024. With a gross profit margin of 100% during the same period, the company has maintained its profitability, aligning with one of the InvestingPro Tips that highlights OFS Credit Company's profitability over the last twelve months.
For those interested in dividend income, OFS Credit Company's dividend yield as of mid-2024 stands at an impressive 16.69%. This aligns with another InvestingPro Tip, noting that the company pays a significant dividend to shareholders. Investors considering OFS Credit Company as part of their portfolio for dividend returns may find this particularly relevant.
For more in-depth analysis and additional InvestingPro Tips on OFS Credit Company, interested readers can explore the full range of insights available at InvestingPro. There are currently 3 more tips listed that could further inform investment decisions. To access these insights, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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