OFS Credit Company, Inc. (NASDAQ:OCCI) Sees Significant Decline in Short Interest

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 202,452 shares, a decrease of 45.6% from the May 14th total of 371,889 shares. Based on an average daily trading volume, of 204,518 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.7% of the company’s stock are short sold.

Institutional Trading of OFS Credit

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its holdings in shares of OFS Credit by 21.6% in the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock valued at $108,000 after acquiring an additional 3,138 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of OFS Credit in the 1st quarter valued at $385,000. Raymond James Financial Inc. purchased a new stake in shares of OFS Credit in the 2nd quarter valued at $26,000. Osaic Holdings Inc. boosted its holdings in shares of OFS Credit by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after acquiring an additional 4,100 shares during the last quarter. Finally, TIAA Trust National Association purchased a new stake in shares of OFS Credit in the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 23.77% of the company’s stock.

OFS Credit Stock Down 3.7%

Shares of OFS Credit stock traded down $0.10 on Tuesday, reaching $2.71. The stock had a trading volume of 500,744 shares, compared to its average volume of 343,646. The company has a 50 day moving average price of $3.19 and a 200 day moving average price of $3.78. OFS Credit has a 1 year low of $2.62 and a 1 year high of $6.36. The stock has a market capitalization of $78.72 million, a P/E ratio of -2.22 and a beta of 0.68.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $9.20 million during the quarter, compared to analysts’ expectations of $9.20 million.

OFS Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 22.2%. The ex-dividend date of this dividend is Wednesday, July 15th. OFS Credit’s payout ratio is currently -96.72%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded OFS Credit from a “hold” rating to a “sell” rating in a research report on Saturday.

About OFS Credit

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.