OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Update

Key Points

• OFS Credit Company, Inc. (NASDAQ:OCCI) experienced a significant drop in short interest, decreasing by 78.6% in August, with total short interest falling to 64,600 shares.
• The company's recent quarterly earnings report showed an earnings per share (EPS) of $0.31, with analysts predicting an EPS of 0.89 for the current year.
• OFS Credit announced a monthly dividend of $0.115, translating to an annualized dividend yield of 22.5%, although the dividend payout ratio is notably high at 811.76%.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 64,600 shares, a drop of 78.6% from the August 15th total of 301,700 shares. Based on an average trading volume of 268,700 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.4% of the company's shares are short sold. Currently, 0.4% of the company's shares are short sold. Based on an average trading volume of 268,700 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On OFS Credit

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in OFS Credit during the second quarter valued at approximately $26,000. Osaic Holdings Inc. boosted its stake in OFS Credit by 61.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company's stock worth $67,000 after acquiring an additional 4,100 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in OFS Credit during the 2nd quarter worth approximately $69,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of OFS Credit in the second quarter valued at approximately $73,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of OFS Credit in the second quarter valued at approximately $74,000. 23.77% of the stock is owned by hedge funds and other institutional investors.

OFS Credit Stock Down 1.5%

OCCI stock traded down $0.09 during midday trading on Wednesday, hitting $5.84. The company's stock had a trading volume of 277,473 shares, compared to its average volume of 312,949. OFS Credit has a 1 year low of $5.26 and a 1 year high of $7.78. The stock has a market cap of $91.98 million, a price-to-earnings ratio of 24.33 and a beta of 0.71. The stock's 50-day moving average price is $5.95 and its 200 day moving average price is $6.26.

OFS Credit (NASDAQ:OCCI - Get Free Report) last announced its earnings results on Friday, September 12th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). The firm had revenue of $12.05 million during the quarter, compared to analysts' expectations of $12.05 million. As a group, equities analysts forecast that OFS Credit will post 0.89 earnings per share for the current fiscal year.

OFS Credit Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.115 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 23.6%. OFS Credit's payout ratio is presently 625.00%.

About OFS Credit

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