Eagle Point Entities Sell $32,340 in OFS Credit Company Preferred Stock

In a recent transaction, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both of which hold indirect financial interests, sold preferred stock in OFS Credit Company, Inc. The total value of the transaction amounted to $32,340, involving the sale of 1,375 shares of the 5.25% Series E Term Preferred Stock due 2026, which was priced at $23.52 per share.

Dated September 19, 2024, this sale left the reporting entities with 31,107 shares remaining in this particular series of stock. Eagle Point Credit Management and Eagle Point DIF GP I are linked to private investment funds that possess these securities. According to the filing, these entities act as general partners for certain funds and are thus regarded as having an indirect pecuniary interest in the reported securities.

The ownership is classified as indirect, with the filing disavowing beneficial ownership of the reported securities, in line with Rule 16a-1(a)(4) of the Securities Exchange Act of 1934. Kenneth P. Onorio, the Chief Financial Officer for both entities, signed the filing on September 23, 2024, confirming the transaction details.

This sale marks a significant stock movement by Eagle Point entities in OFS Credit Company. As per all Form 4 filings, the information serves to provide transparency about the trading activities of insider participants and significant stakeholders.

In additional recent news, OFS Credit Company revealed its estimated net asset value (NAV) per share for August 2024, predicting an unaudited NAV between $7.04 and $7.14. However, management cautioned that these preliminary figures could substantially differ from the actual NAV for the period ending October 31, 2024, due to various factors, including interest rate fluctuations, inflation, geopolitical tensions, banking sector instability, and uncertainties related to the 2024 U.S. presidential election. It should be noted that these preliminary financial metrics have not been reviewed or audited by KPMG LLP.

For investors monitoring insider transactions involving OFS Credit Company, it’s relevant to assess the company’s financial health and market performance. Over the past year leading up to Q3 2024, OFS Credit has exhibited a solid revenue growth of 13.47%, indicating a positive trajectory in its earnings potential.

The company’s market capitalization is approximately $121.88 million, with a price-to-earnings (P/E) ratio of 10.41, which suggests a reasonable valuation relative to its earnings. The dividend yield recently recorded was notably high at 18.23%, suggesting that the company offers significant returns to shareholders, making it attractive for income-oriented investors.

Additionally, OFS Credit has demonstrated profitability over the last year, with liquid assets adequate to cover short-term obligations, reflecting its financial stability—an important consideration for investors, particularly during uncertain economic conditions.

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