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

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 58,900 shares, a growth of 62.7% from the March 31st total of 36,200 shares. Based on an average trading volume of 110,500 shares, the short-interest ratio is presently 0.5 days.

OFS Credit Price Performance

Shares of NASDAQ:OCCI traded up $0.01 during trading on Monday, hitting $7.05. The company’s stock had a trading volume of 65,788 shares, compared to its average volume of 115,494. The company has a 50-day moving average of $7.03 and a 200-day moving average of $6.75. OFS Credit has a 12 month low of $5.47 and a 12 month high of $10.15. The firm has a market cap of $76.23 million, a price-to-earnings ratio of -14.09 and a beta of 1.31.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings data on Friday, March 8th. The company reported $0.45 earnings per share for the quarter. The business had revenue of $8.44 million during the quarter. As a group, research analysts anticipate that OFS Credit will post 1.14 earnings per share for the current year.

OFS Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be issued a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 17.03%. The ex-dividend date is Thursday, April 18th. OFS Credit’s dividend payout ratio is -240.00%.

Insider Buying and Selling at OFS Credit

In other news, major shareholder Eagle Point Credit Management sold 3,975 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $22.92, for a total value of $91,107.00. Following the transaction, the insider now owns 172,191 shares in the company, valued at approximately $3,946,617.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 61,793 shares of company stock worth $1,399,808. Company insiders own 9.43% of the company’s stock.

Institutional Investors Weigh In On OFS Credit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in OFS Credit by 81.7% in the 1st quarter. Lindbrook Capital LLC now owns 8,000 shares of the company’s stock worth $57,000 after acquiring an additional 3,596 shares in the last quarter. True North Advisors LLC purchased a new stake in OFS Credit in the 1st quarter worth approximately $80,000. PFG Investments LLC purchased a new stake in OFS Credit in the 1st quarter worth approximately $82,000. B. Riley Wealth Advisors Inc. grew its holdings in OFS Credit by 15.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 22,386 shares of the company’s stock valued at $171,000 after buying an additional 3,053 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in OFS Credit by 29.3% during the 1st quarter. International Assets Investment Management LLC now owns 27,232 shares of the company’s stock valued at $192,000 after buying an additional 6,172 shares in the last quarter. 23.77% of the stock is owned by hedge funds and other institutional investors.

About OFS Credit

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