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

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 129,522 shares, a decrease of 46.3% from the June 15th total of 241,000 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 317,151 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of OFS Credit in the 2nd quarter valued at about $26,000. Kestra Private Wealth Services LLC acquired a new position in shares of OFS Credit in the third quarter worth approximately $56,000. One Capital Management LLC bought a new stake in OFS Credit in the third quarter valued at approximately $58,000. Virtu Financial LLC acquired a new stake in OFS Credit during the 3rd quarter valued at approximately $58,000. Finally, Osaic Holdings Inc. raised its holdings 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 purchasing an additional 4,100 shares during the last quarter. 23.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

OFS Credit Price Performance

OFS Credit stock opened at $2.65 on Wednesday. The business has a 50 day moving average of $3.01 and a 200-day moving average of $3.45. The company has a market capitalization of $77.83 million, a P/E ratio of -2.17 and a beta of 0.71. OFS Credit has a 1 year low of $2.42 and a 1 year high of $6.29.

OFS Credit (NASDAQ:OCCI) last posted its earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share for the quarter. The business had revenue of $9.20 million for the quarter.

OFS Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 22.6%. OFS Credit’s payout ratio is currently -91.80%.

OFS Credit Company Profile

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.