Cardiff Oncology shares plunge after Q2 earnings miss
Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both entities with indirect pecuniary interest, have recently sold shares of OFS Credit Company, Inc. (NASDAQ:OCCI) preferred stock, netting a total of $20,632. The transactions, which took place over three days, involved the sale of 6.125% Series C Term Preferred Stock due 2026.
On August 23, 2024, 123 shares were sold at a price of $24.40 per share. The sales continued on August 26, with 300 shares disposed of at $24.42 each, and concluded on August 27, when an additional 422 shares were sold at the same price of $24.42 per share. Following these transactions, the entities' holdings in this series of preferred stock reduced to 14,340 shares.
These sales occurred within a narrow price range, between $24.40 and $24.42, reflecting a consistent market price for the preferred stock during the reported period.
Footnotes in the filing clarified the nature of ownership, indicating that the securities 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 certain applicable funds. Both entities could be deemed to have an indirect pecuniary interest in the securities reported herein. They have disclaimed beneficial ownership of the securities described in this report and stated that the inclusion of these securities in this report should not be deemed an admission of beneficial ownership for any purpose.
Investors monitoring insider transactions of OFS Credit Company, Inc. may find this recent activity to be of interest as they assess the company's stock performance and insider confidence.
InvestingPro Insights
Recent transactions by Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC have highlighted investor interest in OFS Credit Company, Inc. (NASDAQ:OCCI). To further understand the company's financial health and potential, let's delve into some key metrics and insights from InvestingPro.
InvestingPro Data shows that OFS Credit Company, Inc. has a market capitalization of $117.42 million, which is reflective of its size in the financial market. The company's P/E Ratio stands at 13.18, offering an insight into its valuation relative to its earnings. Additionally, the company has experienced a revenue growth of 14.19% over the last twelve months as of Q2 2024, indicating a positive trajectory in its financial performance.
InvestingPro Tips provide further context to these figures. Notably, OFS Credit Company, Inc. pays a significant dividend to shareholders, with a dividend yield of 19.01% as of the last dividend date in 2024. This could be an attractive point for income-focused investors. On the flip side, the valuation implies a poor free cash flow yield, which may give investors pause as they consider the company's ability to generate cash after capital expenditures. Another positive tip is that the company's liquid assets exceed short-term obligations, suggesting financial stability in the near term.
For those interested in a more comprehensive analysis, there are additional InvestingPro Tips available that can shed light on the company's financial nuances and investment potential. These insights can be found at https://www.investing.com/pro/OCCI, which may provide valuable information for investors considering OFS Credit Company, Inc. as part of their investment portfolio.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.