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

OFS Credit Company, Inc. (NASDAQ:OCCI) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 151,830 shares, a decrease of 46.3% from the August 15th total of 282,745 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 202,637 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

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

Institutional Trading of OFS Credit

Hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC lifted its position in OFS Credit by 12.1% during 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 during the last quarter. Advisory Solutions Group LLC bought a new position in OFS Credit in the 2nd quarter valued at $49,000. Finally, Two Sigma Securities LLC purchased a new position in OFS Credit in the 2nd quarter worth about $40,000. 23.77% of the stock is owned by hedge funds and other institutional investors.

OFS Credit Stock Performance

Shares of NASDAQ OCCI traded up $0.00 during midday trading on Thursday, reaching $2.36. The stock had a trading volume of 108,925 shares, compared to its average volume of 303,375. The stock has a 50-day moving average of $2.52 and a 200-day moving average of $2.83. The company has a market capitalization of $69.34 million, a price-to-earnings ratio of -1.94 and a beta of 0.72. OFS Credit has a 12-month low of $2.15 and a 12-month high of $5.84.

OFS Credit (NASDAQ:OCCI) last issued its earnings results on Monday, June 22nd. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $9.20 million during the quarter, compared to the consensus estimate of $9.20 million.

OFS Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 25.4%. OFS Credit’s dividend payout ratio (DPR) is presently -76.23%.

About OFS Credit

OFS Credit Company, Inc is a closed-end investment company that seeks to generate current income and, to a lesser extent, capital appreciation by investing in collateralized loan obligations (CLOs). Its portfolio primarily consists of CLO equity and debt tranches, which are securities backed by pools of senior secured corporate loans.

The company’s investments generally provide exposure to corporate borrowers through the underlying loan portfolios rather than through direct lending by OFS Credit.