Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Decreases By 46.3%

OFS Credit Company, Inc. (NASDAQ:OCCI) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 151,830 shares, a decrease of 46.3% from the August 15th total of 282,745 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 202,637 shares, the days-to-cover ratio is currently 0.7 days.

OFS Credit Price Performance

OCCI stock traded down $0.17 on Tuesday, reaching $2.39. 340,121 shares of the company were exchanged, compared to its average volume of 305,083. The stock’s fifty day moving average price is $2.53 and its 200 day moving average price is $2.84. The firm has a market capitalization of $70.20 million, a PE ratio of -1.96 and a beta of 0.72. OFS Credit has a 12 month low of $2.15 and a 12 month high of $6.03.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings data on Monday, June 22nd. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $9.20 million for the quarter, compared to analyst estimates of $9.20 million.

OFS Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a c) annualized dividend and a yield of 25.1%. OFS Credit’s payout ratio is currently -75.41%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Advisory Solutions Group LLC bought a new stake in shares of OFS Credit in the 2nd quarter worth about $49,000. Two Sigma Securities LLC acquired a new position in OFS Credit in the second quarter valued at about $40,000. Finally, Kestra Advisory Services LLC grew its stake in OFS Credit by 12.1% during the first quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after buying an additional 10,000 shares during the last quarter. 23.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded OFS Credit from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st.

OFS Credit Company Profile

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.