CHICAGO - OFS Credit Company, Inc. (NASDAQ: NASDAQ:OCCI), an investment firm focusing on collateralized loan obligation (CLO) equity and debt securities, today disclosed an estimated net asset value (NAV) per share for the end of August 2024. The unaudited NAV per share is projected to be between $7.04 and $7.14.
This preliminary financial data, which is not a comprehensive report of the company's financial status as of August 31, 2024, has not been subjected to the usual quarter-end financial closing procedures. Consequently, these figures may significantly vary from the actual NAV determined for the period ending October 31, 2024, which will be detailed in the company's forthcoming Annual Report on Form N-CSR.
OFS Credit's management cautions that the company's financial condition and operations could be materially affected by circumstances and events that have not yet occurred. Potential factors that may influence the company's portfolio investments and financial outlook include fluctuating interest and inflation rates, the ongoing conflict between Russia and Ukraine, increased tensions in the Middle East, instability in banking systems, uncertainties surrounding the 2024 U.S. presidential election, the risk of recession, or a potential U.S. government shutdown and associated market volatility.
KPMG LLP, the company's auditor, has not reviewed or audited the preliminary financial data provided, and therefore, does not express an opinion or any form of assurance regarding the estimated figures.
OFS Credit Company, managed by OFS Capital (NASDAQ:OFS) Management, LLC, aims to generate current income and, to a lesser extent, capital appreciation through investments in CLO equity and debt securities. The information provided is based on a press release statement from OFS Credit Company, Inc.
InvestingPro Insights
OFS Credit Company, Inc. (NASDAQ: OCCI) continues to be a topic of interest for investors seeking income, as evidenced by the significant dividend yield of 18.06% reported for the year. This substantial return to shareholders is a key highlight, especially in a market where reliable income streams are highly valued.
The company's market capitalization stands at a moderate $123.08 million, and with a price-to-earnings (P/E) ratio of 10.48, it may catch the eye of value-oriented investors. The P/E ratio suggests that the company's earnings adequately support its market valuation, which can be a comforting sign for potential investors looking for reasonably priced opportunities.
On the operational front, OFS Credit Company has demonstrated a solid financial performance with a gross profit margin of 100% over the last twelve months as of Q3 2024. This impressive margin indicates that the company has been highly efficient in managing its cost of goods sold relative to its revenue, which stood at $33.04 million during the same period.
InvestingPro Tips for OFS Credit Company highlight that, aside from its attractive dividend, the firm has maintained profitability over the last twelve months. Additionally, OFS Credit Company's liquid assets have surpassed its short-term obligations, suggesting a comfortable liquidity position. It is also worth noting that the company is trading near its 52-week high, reflecting a period of strong share price performance.
For those interested in a more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/OCCI, which can provide deeper insights into OFS Credit Company's financial health and investment potential.
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