Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both indirect owners of OFS Credit Company, Inc. (NASDAQ:OCCI), have executed a series of stock sales totaling $9,865. The transactions, which took place between May 30 and June 3, involved shares of OFS Credit's 5.25% Series E Term Preferred Stock due 2026 and 6.125% Series C Term Preferred Stock due 2026.
The sales were executed at prices ranging from $23.35 to $24.26 per share. Specifically, on May 30, a total of 5 shares of the 5.25% Series E Term Preferred Stock were sold at $23.35 each. Following this, 100 shares of the 6.125% Series C Term Preferred Stock were sold on May 31 at $24.22 per share, and an additional 302 shares of the same series were sold on June 3 at a weighted average price of $24.26, with individual transaction prices ranging from $24.22 to $24.29.
Eagle Point Credit Management LLC manages several private investment funds that directly hold the securities, and Eagle Point DIF GP I LLC serves as the general partner to certain applicable funds. Both entities may be deemed to have an indirect pecuniary interest in the securities reported herein.
According to the footnotes provided in the SEC filing, both reporting entities disclaim beneficial ownership of the securities described in the report and the inclusion of these securities in this report is not to be deemed an admission of beneficial ownership for any purpose.
Investors tracking insider transactions such as these may consider them as one of many factors in their overall assessment of OFS Credit Company's stock performance.
InvestingPro Insights
As investors evaluate the implications of Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC's recent stock transactions in OFS Credit Company, Inc. (NASDAQ:OCCI), a closer look at OCCI's financial metrics and performance trends can provide additional context. With a market capitalization of $119.29 million and a P/E ratio standing at 16.55, OFS Credit Company presents a mixed financial picture.
One of the key highlights for OCCI is its dividend yield, which is notably high at 16.8%, reflecting the company's commitment to returning value to shareholders. This aligns with the InvestingPro Tip that OCCI pays a significant dividend to shareholders, an attractive feature for income-focused investors. Additionally, the company's revenue has shown healthy growth in the last twelve months as of Q1 2024, with a 15.8% increase in revenue and an even higher quarterly growth rate of 17.32%.
Despite the recent insider sales, OCCI's share price has experienced a large uptick over the last six months, with a 26.71% total return, demonstrating market confidence and potential for growth. Moreover, the company's liquid assets surpassing short-term obligations is another positive sign, as highlighted by the InvestingPro Tip, suggesting a solid financial position for meeting its immediate financial liabilities.
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