OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Up 76.5% in July

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 recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 301,700 shares, agrowthof76.5% from the July 15th total of 170,900 shares. Approximately1.9% of the shares of the company are sold short. Based on an average trading volume of 297,000 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 297,000 shares, the short-interest ratio is currently 1.0 days. Approximately1.9% of the shares of the company are sold short.

OFS Credit Stock Performance

Shares of OCCI stock traded up $0.08 during mid-day trading on Friday, hitting $5.77. 156,364 shares of the stock traded hands, compared to its average volume of 307,778. 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 $90.87 million, a price-to-earnings ratio of 33.94 and a beta of 0.80. The company's 50-day simple moving average is $6.02 and its 200-day simple moving average is $6.40.

OFS Credit (NASDAQ:OCCI - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $10.24 million for the quarter, compared to analyst estimates of $11.44 million. During the same quarter last year, the business posted $0.28 earnings per share. Analysts forecast that OFS Credit will post 0.89 earnings per share for the current year.

OFS Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.115 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 23.9%. OFS Credit's dividend payout ratio (DPR) is 876.47%.

Hedge Funds Weigh In On OFS Credit

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of OFS Credit in the 2nd quarter worth $26,000. Fisher Asset Management LLC acquired a new position in shares of OFS Credit in the 2nd quarter worth $69,000. MinichMacGregor Wealth Management LLC acquired a new position in shares of OFS Credit in the 2nd quarter worth $73,000. Prospera Financial Services Inc acquired a new position in shares of OFS Credit in the 2nd quarter worth $74,000. Finally, NewEdge Advisors LLC grew 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 worth $108,000 after acquiring an additional 3,138 shares during the last quarter. 23.77% of the stock is currently owned by institutional investors and hedge funds.

OFS Credit Company Profile

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