OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Down 31.8% in August

OFS Credit Company, Inc. (NASDAQ:OCCI) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 48,600 shares, a decrease of 31.8% from the August 15th total of 71,300 shares. Based on an average daily volume of 202,400 shares, the days-to-cover ratio is currently 0.2 days.

OFS Credit Price Performance

OFS Credit stock traded up $0.06 during midday trading on Friday, hitting $7.64. The company’s stock had a trading volume of 518,205 shares, compared to its average volume of 161,072. The company has a market cap of $120.32 million, a price-to-earnings ratio of 13.17 and a beta of 1.33. OFS Credit has a 1-year low of $5.47 and a 1-year high of $7.81. The company has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $7.27.

OFS Credit (NASDAQ:OCCI) last released its quarterly earnings results on Friday, September 13th. The company reported $0.47 earnings per share for the quarter. The business had revenue of $7.45 million during the quarter. Sell-side analysts forecast that OFS Credit will post 1.14 EPS for the current year.

OFS Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.38 dividend on an annualized basis and a dividend yield of 18.06%. OFS Credit’s payout ratio is 196.55%.

Insider Activity

In related news, major shareholder Eagle Point Credit Management sold 1,742 shares of OFS Credit stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.37, for a total transaction of $42,452.54. Following the completion of the sale, the insider now directly owns 15,435 shares of the company’s stock, valued at approximately $376,150.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 13,910 shares of company stock valued at $337,684. 2.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Graypoint LLC grew its stake in OFS Credit by 4.5% during the second quarter. Graypoint LLC now owns 124,991 shares of the company’s stock worth $901,000 after buying an additional 5,409 shares in the last quarter. Choreo LLC bought a new stake in shares of OFS Credit during the 1st quarter worth approximately $738,000. International Assets Investment Management LLC boosted its position in shares of OFS Credit by 29.3% during the 1st quarter. International Assets Investment Management LLC now owns 27,232 shares of the company’s stock worth $192,000 after acquiring an additional 6,172 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in OFS Credit by 51.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 22,386 shares of the company’s stock valued at $171,000 after acquiring an additional 7,651 shares during the last quarter. Finally, True North Advisors LLC acquired a new position in OFS Credit during the first quarter valued at approximately $80,000. Institutional investors own 23.77% of the company’s stock.

OFS Credit Company Profile

OFS Credit Company, Inc is a fund of OFS Advisor.