Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Increases By 55.2%

Key Points

• Short interest in OFS Credit increased 55.2% to 221,505 shares as of July 31, representing 0.8% of shares outstanding and 0.8 days of average trading volume.
• OCCI shares opened at $2.49, with a market capitalization of $73.14 million and a 52-week range of $2.15 to $6.14. Wall Street Zen upgraded the stock from “sell” to “hold.”
• The company reported quarterly earnings of $0.19 per share on $9.20 million in revenue and announced a monthly $0.05 dividend, equivalent to a 24.1% annualized yield; institutional investors own 23.77% of the stock.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 221,505 shares, an increase of 55.2% from the July 15th total of 142,677 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 278,350 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised OFS Credit from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st.

OFS Credit Trading Up 0.8%

Shares of OCCI stock opened at $2.49 on Tuesday. The firm has a market capitalization of $73.14 million, a P/E ratio of -2.04 and a beta of 0.72. OFS Credit has a 1 year low of $2.15 and a 1 year high of $6.14. The firm's fifty day simple moving average is $2.56 and its 200 day simple moving average is $3.03.

OFS Credit (NASDAQ:OCCI - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share for the quarter. The company had revenue of $9.20 million during the quarter.

OFS Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 24.1%. The ex-dividend date is Thursday, October 15th. OFS Credit's dividend payout ratio (DPR) is presently -90.16%.

Hedge Funds Weigh In On OFS Credit

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its stake in shares of OFS Credit by 12.1% in the first quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company's stock valued at $268,000 after purchasing an additional 10,000 shares in the last quarter. Virtus Investment Advisers LLC boosted its position in shares of OFS Credit by 0.9% during the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company's stock valued at $2,039,000 after acquiring an additional 3,796 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in OFS Credit in the fourth quarter valued at about $62,000. StoneX Group Inc. bought a new stake in OFS Credit in the fourth quarter valued at about $55,000. Finally, Kestra Private Wealth Services LLC acquired a new position in OFS Credit in the third quarter worth about $56,000. 23.77% of the stock is currently owned by institutional investors.

About OFS Credit

OFS Credit Company, Inc NASDAQ: OCCI is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company's investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.

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