Eagle Point Entities sell $32,340 worth of OFS credit company preferred stock by Investing.com

In a recent transaction, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both with indirect pecuniary interest, sold a total of $32,340 worth of preferred stock in Credit OFS Company, Inc. (NASDAQ:). The sale involved 5.25% Series E term preferred stock due 2026 at $23.52 per share.

The transaction, dated September 19, 2024, involved the disposition of 1,375 shares of Series E Preferred Stock. Following the sale, the reporting entities’ remaining holdings of this special series of stock amounted to 31,107 shares.

The reporting entities, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, are associated with private investment funds that hold these securities. According to footnotes in the filing, these entities serve as the general partner of certain funds and could be considered to have an indirect pecuniary interest in the reported securities.

The nature of ownership is indicated as indirect, with the reporting entities disclaiming beneficial ownership of the securities described in the report, as clarified in the footnotes. This disclaimer is in accordance with Rule 16a-1(a)(4) of the Securities Exchange Act of 1934.

Kenneth P. Onorio, the chief financial officer for Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, signed the filing on September 23, 2024, confirming the details of the transactions.

Investors following insider trades like these will note that the sale represents a significant stock move for OFS Credit Company’s Eagle Point entities. As with all Form 4 filings, the information provides a transparent picture of the trading activities of company insiders and entities with significant stakes.

In other recent news, OFS Credit Company, Inc. disclosed its estimated net asset value (NAV) per share for August 2024. The unaudited value per share is estimated to be between $7.04 and $7.14. However, the company’s management cautions that these preliminary figures may vary significantly from the actual NPV value determined for the period ended October 31, 2024, due to a number of potential factors. These include interest rate and inflation fluctuations, geopolitical tensions, banking system instability and uncertainties surrounding the 2024 US presidential election. The company’s auditor, KPMG LLP, has not reviewed or audited the preliminary financial data provided. These are recent developments from OFS Credit Company, an investment firm specializing in debt securities and debt securities.

InvestingPro Insights

In light of recent insider transactions involving OFS Credit Company, Inc. (NASDAQ:OCCI), the company’s financial health and market performance are worth considering. Over the past twelve months to Q3 2024, OFS Credit Company posted a solid revenue growth of 13.47%, highlighting a positive trend in the company’s earning power.

Moreover, the company’s market cap stands at a modest $121.88 million, paired with a price-to-earnings (P/E) ratio of 10.41. This P/E ratio suggests that the stock trades at a reasonable valuation relative to its earnings. The dividend yield since the last dividend date has been considerably high at 18.23%, which aligns with one of InvestingPro Tips indicating that OCCI pays a significant dividend to shareholders. This could be an attractive point for income-focused investors.

For those interested in the liquidity and financial stability of OFS Credit Company, it is worth noting that the company has been profitable for the past twelve months and that its liquid assets have been sufficient to cover its short-term obligations. This financial resilience is an essential factor for investors, especially in uncertain economic times.

For more detailed analysis and other InvestingPro tips, interested readers can explore the full range of information available at https://www.investing.com/pro/OCCI, which includes a comprehensive list of 4 additional tips to help evaluate stock performance the company. and potential investment opportunities.

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