OFS Credit Company, Inc. (NASDAQ:OCCI) Sees Large Growth in Short Interest

Key Points

• OFS Credit Company, Inc. experienced a significant increase in short interest, rising by 293.7% to a total of 254,300 shares as of September 15th.
• Despite reporting earnings of $0.31 per share, the company missed analysts' estimates of $0.38 per share in its latest quarterly earnings on September 12th.
• The firm recently announced a monthly dividend of $0.115 per share, implying a high annualized yield of 24.9% but a substantial dividend payout ratio of 575.00%.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 254,300 shares, an increase of 293.7% from the August 31st total of 64,600 shares. Based on an average trading volume of 266,800 shares, the days-to-cover ratio is presently 1.0 days. Based on an average trading volume of 266,800 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On OFS Credit

A number of large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in OFS Credit in the 1st quarter valued at approximately $432,000. Jane Street Group LLC acquired a new stake in OFS Credit during the 1st quarter valued at $385,000. Naviter Wealth LLC acquired a new stake in OFS Credit during the 2nd quarter valued at $128,000. Prospera Financial Services Inc acquired a new stake in OFS Credit during the 2nd quarter valued at $74,000. Finally, MinichMacGregor Wealth Management LLC acquired a new stake in OFS Credit during the 2nd quarter valued at $73,000. 23.77% of the stock is owned by hedge funds and other institutional investors.

OFS Credit Trading Up 0.8%

Shares of NASDAQ OCCI traded up $0.05 during trading hours on Thursday, reaching $5.54. The stock had a trading volume of 243,376 shares, compared to its average volume of 312,392. OFS Credit has a fifty-two week low of $5.21 and a fifty-two week high of $7.58. The firm has a 50-day moving average of $5.80 and a 200-day moving average of $6.15. The firm has a market cap of $87.18 million, a price-to-earnings ratio of 23.06 and a beta of 0.66.

OFS Credit (NASDAQ:OCCI - Get Free Report) last posted its quarterly earnings data on Friday, September 12th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.07). The business had revenue of $12.05 million during the quarter, compared to the consensus estimate of $12.05 million. On average, equities analysts predict that OFS Credit will post 0.89 EPS for the current year.

OFS Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.115 per share. This represents a c) dividend on an annualized basis and a yield of 24.9%. The ex-dividend date of this dividend was Friday, August 15th. OFS Credit's dividend payout ratio (DPR) is presently 575.00%.

About OFS Credit

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

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