In a recent series of transactions, Eagle Point Credit Management LLC and its associated entities have sold a total of $1,085 worth of preferred stock in OFS Credit Company, Inc. (NASDAQ:OCCI). The stock, identified as 6.125% Series C Term Preferred Stock due 2026, was sold over a period of three days with prices ranging between $24.10 and $24.12 per share.
The transactions were carried out by Eagle Point Credit Management LLC, alongside Eagle Point CIF GP I LLC and Eagle Point DIF GP I LLC, all of which are entities that manage private investment funds and act as general partners to certain funds. The sales were completed on March 13, 14, and 15, with the number of shares sold totaling 45 across the three days.
The ownership document filed with the SEC provides insight into the post-transaction holdings of the entities, showing that following the sales, they still hold a substantial number of shares in OFS Credit Company. Specifically, the entities retain ownership of 42,326 shares of the Series C Term Preferred Stock due 2026 after the transactions.
It is important to note that the reporting entities have disclaimed beneficial ownership of the securities described in the report, as stated in the footnotes accompanying the SEC filing. The disclaimer clarifies that the inclusion of these securities in the report is not an admission of beneficial ownership for purposes of Section 16 or any other purpose.
Investors and market watchers often monitor such filings for indications of an entity's confidence in the issuer's future prospects, as well as for broader trends in investment decisions. The transactions by Eagle Point entities provide a glimpse into the trading activity surrounding OFS Credit Company's preferred stock and offer data for market participants to consider in their analysis.
InvestingPro Insights
The recent transactions involving Eagle Point Credit Management LLC's sale of OFS Credit Company's preferred stock come at a time when OFS Credit Company, Inc. (NASDAQ:OCCI) is showing strong performance metrics. According to InvestingPro data, OCCI boasts a Market Cap of approximately $112.21M and a P/E Ratio of 15.58. The company has demonstrated a solid revenue growth of 15.8% in the last twelve months as of Q1 2024, which is further supported by a quarterly revenue growth of 17.32% in Q1 2024.
Investors looking for income-generating investments might find OCCI's significant dividend yield of 17.02% particularly attractive, a point highlighted by one of the InvestingPro Tips. This is coupled with the company's strong return over the last three months, which stands at 15.41%. These figures suggest that OCCI could be a compelling choice for both growth and income investors.
Moreover, another InvestingPro Tip points out that OCCI's liquid assets exceed its short-term obligations, indicating a sound liquidity position that may reassure investors of the company's ability to meet its immediate financial commitments. For those seeking more in-depth analysis, there are additional InvestingPro Tips available, which can be accessed for OCCI at https://www.investing.com/pro/OCCI. By using the coupon code PRONEWS24, readers can obtain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights that could inform investment decisions.
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