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

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 79,100 shares, a growth of 105.5% from the September 30th total of 38,500 shares. Based on an average trading volume of 271,900 shares, the days-to-cover ratio is presently 0.3 days.

OFS Credit Stock Down 0.3 %

NASDAQ:OCCI traded down $0.02 on Friday, hitting $7.03. The stock had a trading volume of 277,762 shares, compared to its average volume of 181,616. OFS Credit has a 52 week low of $5.47 and a 52 week high of $7.81. The business’s fifty day moving average is $7.39 and its 200 day moving average is $7.34. The company has a market cap of $110.72 million, a PE ratio of 12.12 and a beta of 1.33.

OFS Credit (NASDAQ:OCCI) last issued its earnings results on Friday, September 13th. The company reported $0.47 earnings per share (EPS) for the quarter. The firm had revenue of $7.45 million during the quarter. Equities analysts predict that OFS Credit will post 1.14 earnings per share for the current fiscal year.

OFS Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.115 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 19.63%. The ex-dividend date is Monday, October 21st. OFS Credit’s dividend payout ratio is currently 217.24%.

Insider Buying and Selling at OFS Credit

In related news, major shareholder Eagle Point Credit Management sold 1,742 shares of the firm’s 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 owns 15,435 shares of the company’s stock, valued at $376,150.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 8,110 shares of company stock valued at $196,539. 2.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OFS Credit

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Graypoint LLC increased its holdings in OFS Credit by 4.5% during the 2nd quarter. Graypoint LLC now owns 124,991 shares of the company’s stock worth $901,000 after purchasing an additional 5,409 shares in the last quarter. Choreo LLC bought a new stake in OFS Credit during the first quarter worth $738,000. Finally, B. Riley Wealth Advisors Inc. raised its position in OFS Credit by 51.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,386 shares of the company’s stock valued at $171,000 after buying an additional 7,651 shares during the last quarter. Institutional investors and hedge funds own 23.77% of the company’s stock.

About OFS Credit

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