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

OFS Credit Company, Inc. (NASDAQ:OCCI) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 289,200 shares, a growth of 122.3% from the February 28th total of 130,100 shares. Based on an average daily volume of 337,900 shares, the short-interest ratio is currently 0.9 days. Approximately 1.9% of the shares of the stock are sold short.

OFS Credit Trading Down 0.2 %

Shares of OCCI traded down $0.01 during trading hours on Friday, reaching $6.19. The company had a trading volume of 329,327 shares, compared to its average volume of 254,554. The company has a market capitalization of $97.49 million, a price-to-earnings ratio of 6.88 and a beta of 1.33. OFS Credit has a 12-month low of $6.08 and a 12-month high of $7.81. The firm has a 50 day simple moving average of $6.99 and a 200-day simple moving average of $7.18.

OFS Credit (NASDAQ:OCCI) last issued its earnings results on Friday, March 14th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $10.06 million during the quarter, compared to analysts’ expectations of $9.59 million. Sell-side analysts forecast that OFS Credit will post 0.89 earnings per share for the current year.

OFS Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 18th will be given a dividend of $0.115 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.38 dividend on an annualized basis and a yield of 22.29%. OFS Credit’s payout ratio is 211.11%.

Institutional Trading of OFS Credit

Several large investors have recently bought and sold shares of the company. Virtus ETF Advisers LLC raised its stake in shares of OFS Credit by 14.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 318,110 shares of the company’s stock worth $2,262,000 after buying an additional 39,531 shares during the last quarter. Nicolet Advisory Services LLC acquired a new stake in OFS Credit in the 4th quarter valued at about $105,000. LPL Financial LLC increased its holdings in OFS Credit by 1.4% during the 4th quarter. LPL Financial LLC now owns 106,421 shares of the company’s stock valued at $757,000 after acquiring an additional 1,445 shares in the last quarter. Graypoint LLC lifted its holdings in shares of OFS Credit by 25.9% in the fourth quarter. Graypoint LLC now owns 164,826 shares of the company’s stock valued at $1,172,000 after purchasing an additional 33,857 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of OFS Credit in the third quarter valued at approximately $134,000. 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.