Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Drops By 45.6%

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

Hedge Funds Weigh In On OFS Credit

Several institutional investors have recently modified their holdings of OCCI. NewEdge Advisors LLC grew its position in OFS Credit by 21.6% during the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after acquiring an additional 3,138 shares during the last quarter. Virtus Investment Advisers LLC grew its position in shares of OFS Credit by 0.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after buying an additional 3,796 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of OFS Credit by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock worth $67,000 after buying an additional 4,100 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of OFS Credit in the 2nd quarter worth approximately $26,000. Finally, Kestra Advisory Services LLC grew its position in shares of OFS Credit by 12.1% in the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after buying an additional 10,000 shares during the last quarter. 23.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

OFS Credit Trading Down 2.9%

OFS Credit stock traded down $0.09 during trading on Friday, hitting $2.98. 191,317 shares of the company were exchanged, compared to its average volume of 170,532. The business’s 50 day moving average is $3.19 and its 200 day moving average is $3.80. OFS Credit has a 52 week low of $2.62 and a 52 week high of $6.38. The company has a market capitalization of $86.68 million, a P/E ratio of -2.44 and a beta of 0.68.

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

OFS Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 20.1%. OFS Credit’s dividend payout ratio is -100.82%.

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.