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

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

Insider Activity

In related news, major shareholder Eagle Point Credit Management sold 3,472 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $24.21, for a total transaction of $84,057.12. Following the completion of the transaction, the insider now directly owns 25,287 shares in the company, valued at $612,198.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 13,910 shares of company stock worth $337,684 over the last three months. Corporate insiders own 2.76% of the company’s stock.

Hedge Funds Weigh In On OFS Credit

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Graypoint LLC lifted its stake in OFS Credit by 4.5% in the second quarter. Graypoint LLC now owns 124,991 shares of the company’s stock valued at $901,000 after acquiring an additional 5,409 shares during the last quarter. Choreo LLC bought a new position in OFS Credit during the first quarter worth about $738,000. International Assets Investment Management LLC grew its holdings in OFS Credit by 29.3% during the first quarter. International Assets Investment Management LLC now owns 27,232 shares of the company’s stock worth $192,000 after purchasing an additional 6,172 shares during the period. B. Riley Wealth Advisors Inc. increased its position in OFS Credit by 51.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,386 shares of the company’s stock worth $171,000 after buying an additional 7,651 shares during the last quarter. Finally, True North Advisors LLC bought a new stake in OFS Credit in the first quarter valued at approximately $80,000. 23.77% of the stock is owned by institutional investors.

OFS Credit Price Performance

NASDAQ:OCCI traded up $0.06 on Friday, hitting $7.64. 518,205 shares of the company’s stock were exchanged, compared to its average volume of 161,072. The firm has a 50-day moving average price of $7.33 and a 200-day moving average price of $7.27. OFS Credit has a 52 week low of $5.47 and a 52 week high of $7.81. The company has a market cap of $120.32 million, a P/E ratio of 13.17 and a beta of 1.33.

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

OFS Credit Announces Dividend

The business 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 $0.115 dividend. This represents a $1.38 annualized dividend and a dividend yield of 18.06%. The ex-dividend date is Monday, October 21st. OFS Credit’s payout ratio is presently 196.55%.

OFS Credit Company Profile

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