Executives at Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC have sold a total of $21,400 worth of 6.125% Series C Term Preferred Stock due 2026 from OFS Credit Company, Inc. (NASDAQ:OCCI). The transactions were carried out over two consecutive days, with stock prices ranging between $24.40 and $24.42 per share.
The sales were reported in a recent SEC filing, which detailed the disposal of shares on the 13th and 14th of August, 2024. On the first day, 777 shares were sold at an average price of $24.40, followed by a sale of 100 shares the next day at a slightly higher average price of $24.42. These transactions resulted in a total sale value of $21,400.
According to the footnotes in the SEC filing, the securities 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 entities could be deemed to have an "indirect pecuniary interest" in the securities reported.
The reporting persons have disclaimed beneficial ownership of the securities described in the report, indicating that the inclusion of these securities in the report should not be deemed an admission of beneficial ownership for any purpose.
The reported price represents a weighted average purchase price per share, as the securities were sold in multiple transactions at prices within the stated range. The reporting person has committed to providing full information regarding the number of shares sold at each separate price within the range upon request by the SEC, the issuer, or any security holder of the issuer.
The sale of these preferred stocks by Eagle Point executives is a notable transaction for investors tracking insider activity within OFS Credit Company, Inc.
InvestingPro Insights
Amid the recent insider transactions at OFS Credit Company, Inc. (NASDAQ:OCCI), InvestingPro metrics and tips provide a broader financial context for investors considering the company's stock. OFS Credit Company's market capitalization stands at approximately $117.91 million, reflecting its size within the financial sector. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, is 13.27, offering a glimpse into how the market values its earnings.
From a revenue standpoint, OFS Credit Company has reported a solid growth trajectory. In the last twelve months leading up to the second quarter of 2024, the company achieved a revenue of $32.82 million, which is a 14.19% increase compared to the previous period. This revenue growth is further substantiated by a quarterly increase of 12.22% in Q2 2024. Such figures suggest that the company is expanding its financial footprint and may be capturing more market share or improving its offerings.
InvestingPro Tips highlight several key aspects of OFS Credit Company's financial health and shareholder value. Firstly, the company pays a significant dividend, with a yield of 18.9%, as of the latest data. This high yield may be attractive to income-focused investors seeking regular cash returns on their investment. Secondly, the company's liquid assets surpass its short-term obligations, indicating a strong liquidity position that can reassure investors about the company's ability to meet its immediate financial liabilities.
For those seeking more in-depth analysis, InvestingPro offers additional tips on OFS Credit Company, which can be found at https://www.investing.com/pro/OCCI. These tips delve into various facets of the company's financial performance and outlook, providing investors with a comprehensive toolkit for making informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.