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

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 137,900 shares, a growth of 445.1% from the March 15th total of 25,300 shares. Based on an average trading volume of 87,100 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity at OFS Credit

In other news, major shareholder Eagle Point Credit Management sold 24,665 shares of the firm's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $22.64, for a total transaction of $558,415.60. Following the sale, the insider now owns 275,635 shares of the company's stock, valued at approximately $6,240,376.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 111,441 shares of company stock valued at $2,528,472. 9.43% of the stock is owned by corporate insiders.

Institutional Trading of OFS Credit

Institutional investors have recently made changes to their positions in the business. Creative Planning purchased a new stake in OFS Credit in the 4th quarter worth $71,000. Jane Street Group LLC purchased a new stake in shares of OFS Credit in the third quarter worth approximately $99,000. NewEdge Advisors LLC raised its holdings in shares of OFS Credit by 17.9% in the second quarter. NewEdge Advisors LLC now owns 13,536 shares of the company's stock worth $123,000 after buying an additional 2,054 shares during the period. International Assets Investment Management LLC boosted its holdings in OFS Credit by 7.9% during the 4th quarter. International Assets Investment Management LLC now owns 21,060 shares of the company's stock valued at $136,000 after acquiring an additional 1,538 shares during the period. Finally, First Republic Investment Management Inc. bought a new position in OFS Credit in the 1st quarter valued at $148,000. Hedge funds and other institutional investors own 23.77% of the company's stock.

OFS Credit Price Performance

OFS Credit stock traded down $0.05 during mid-day trading on Wednesday, reaching $7.19. 122,652 shares of the stock traded hands, compared to its average volume of 117,437. OFS Credit has a 12-month low of $5.47 and a 12-month high of $10.15. The stock has a market capitalization of $77.80 million, a PE ratio of -14.38 and a beta of 1.31. The business's 50-day moving average is $7.00 and its 200-day moving average is $6.72.

OFS Credit (NASDAQ:OCCI - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $8.44 million for the quarter. Equities analysts anticipate that OFS Credit will post 1.14 EPS for the current fiscal year.

OFS Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.20 dividend on an annualized basis and a yield of 16.69%. OFS Credit's dividend payout ratio is presently -240.00%.

About OFS Credit

OFS Credit Company, Inc is a fund of OFS Advisor.

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