Eagle Point entities sell OFS Credit Company shares worth $48 By Investing.com

Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both managed by the same investment firm, have reported the sale of shares in OFS Credit Company, Inc. (NASDAQ:). The transactions, detailed in a recent SEC filing, involved the sale of shares of OFS Credit Company’s 6.125% Series C Term Preferred Stock due 2026, with a total transaction value of $48.

The shares were sold on May 24, 2024, at a price of $24.22 each. Following the sale, the entities collectively own 36,704 shares of the Series C Term Preferred Stock. It is important to note that the shares 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 the applicable funds.

The filing also clarifies the nature of ownership, stating that Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC could be deemed to have an “indirect pecuniary interest” in the securities reported. However, they have disclaimed beneficial ownership of the securities described in the report, indicating that the inclusion of these securities in the report is not an admission of beneficial ownership for the purposes of Section 16 or any other purpose.

Investors and market watchers often monitor such filings to get insights into the actions of significant shareholders and their potential impact on the market. The sale of these shares by entities related to Eagle Point could be of interest to current and potential shareholders of OFS Credit Company, Inc.

InvestingPro Insights

OFS Credit Company, Inc. (NASDAQ:OCCI) has been a topic of interest for investors, particularly following the sale of shares by Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC. To provide further context, here are some key metrics and insights from InvestingPro that could be valuable for current and potential shareholders:

The company’s market capitalization stands at a moderate $118.34 million, reflecting its size in the financial industry. With a price-to-earnings (P/E) ratio of 16.35, OCCI presents a valuation that is indicative of investor expectations for future earnings growth relative to the market average. Additionally, OFS Credit Company has demonstrated solid financial performance with a revenue growth of 15.8% over the last twelve months as of Q1 2024, showcasing the company’s ability to expand its financial footprint.

InvestingPro Tips highlight that OCCI pays a significant dividend to shareholders, with a robust dividend yield of 16.82% as of the latest data, which is particularly attractive for income-focused investors. Moreover, the company has been profitable over the last twelve months, a reassuring sign of financial health. However, it’s worth noting that the valuation implies a poor free cash flow yield, which could be a point of consideration for those assessing the company’s cash generation efficiency relative to its market value.

For investors interested in a deeper dive into OFS Credit Company’s performance and future prospects, InvestingPro offers additional tips. With the use of coupon code PRONEWS24, you can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a wealth of insights to inform your investment decisions. In total, there are 5 additional InvestingPro Tips available for OCCI at https://www.investing.com/pro/OCCI, providing a more comprehensive understanding of the company’s financial standing and market position.

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