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

Key Points

• OFS Credit Company, Inc. experienced a significant increase in short interest, rising by 76.5% from mid-July to the end of the month, totaling 301,700 shares.
• The stock recently traded at $5.68 with a twelve-month low of $5.26 and a high of $7.78, while the company reported $0.37 earnings per share, surpassing estimates.
• OFS Credit declared a monthly dividend of $0.115 per share, resulting in an impressive annualized dividend yield of 24.3%.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 301,700 shares, anincreaseof76.5% from the July 15th total of 170,900 shares. Based on an average daily volume of 297,000 shares, the short-interest ratio is presently 1.0 days. Approximately1.9% of the company's shares are sold short. Approximately1.9% of the company's shares are sold short. Based on an average daily volume of 297,000 shares, the short-interest ratio is presently 1.0 days.

OFS Credit Price Performance

OFS Credit stock traded down $0.04 during midday trading on Monday, reaching $5.68. The stock had a trading volume of 103,281 shares, compared to its average volume of 323,825. OFS Credit has a twelve month low of $5.26 and a twelve month high of $7.78. The firm has a market cap of $89.38 million, a price-to-earnings ratio of 33.38 and a beta of 0.80. The firm's fifty day simple moving average is $6.09 and its two-hundred day simple moving average is $6.44.

OFS Credit (NASDAQ:OCCI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. The company had revenue of $10.24 million during the quarter, compared to analysts' expectations of $11.44 million. During the same period last year, the company earned $0.28 earnings per share. As a group, sell-side analysts predict that OFS Credit will post 0.89 EPS for the current fiscal year.

OFS Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.115 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 24.3%. OFS Credit's dividend payout ratio (DPR) is currently 882.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OCCI. Virtu Financial LLC bought a new stake in OFS Credit during the 1st quarter valued at approximately $432,000. Virtus ETF Advisers LLC raised its holdings in shares of OFS Credit by 14.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 318,110 shares of the company's stock worth $2,262,000 after buying an additional 39,531 shares in the last quarter. Graypoint LLC grew its stake in OFS Credit by 2.3% during the first quarter. Graypoint LLC now owns 168,540 shares of the company's stock worth $1,031,000 after buying an additional 3,714 shares during the last quarter. Jane Street Group LLC bought a new stake in OFS Credit during the first quarter worth about $385,000. Finally, NewEdge Advisors LLC grew its stake in OFS Credit by 21.6% during the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company's stock worth $108,000 after buying an additional 3,138 shares during the last quarter. Institutional investors own 23.77% of the company's stock.

About OFS Credit

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

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