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

OFS Credit Company, Inc. (NASDAQ:OCCI) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 202,452 shares, a drop of 45.6% from the May 14th total of 371,889 shares. Based on an average trading volume of 204,518 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.7% of the company’s shares are short sold.

Hedge Funds Weigh In On OFS Credit

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus Investment Advisers LLC boosted its position in shares of OFS Credit by 0.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of OFS Credit by 12.1% during the first quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after purchasing an additional 10,000 shares in the last quarter. Jane Street Group LLC bought a new position in shares of OFS Credit during the first quarter worth $385,000. NewEdge Advisors LLC boosted its position in shares of 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 purchasing an additional 3,138 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of OFS Credit during the fourth quarter worth $62,000. 23.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of OFS Credit from a “hold” rating to a “sell” rating in a research note on Saturday.

OFS Credit Stock Down 5.7%

OCCI stock traded down $0.17 during midday trading on Monday, reaching $2.81. The company’s stock had a trading volume of 453,029 shares, compared to its average volume of 169,020. OFS Credit has a 52 week low of $2.62 and a 52 week high of $6.36. The stock has a market cap of $81.74 million, a PE ratio of -2.30 and a beta of 0.68. The business’s 50-day simple moving average is $3.19 and its 200-day simple moving average is $3.78.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings results on Monday, June 15th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.11). The firm had revenue of $9.20 million for the quarter, compared to the consensus estimate of $11.16 million.

OFS Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a dividend yield of 21.4%. The ex-dividend date of this dividend is Wednesday, July 15th. OFS Credit’s dividend payout ratio (DPR) is currently -96.72%.

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.