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

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

Insider Transactions at OFS Credit

In other news, major shareholder Eagle Point Credit Management sold 13,515 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.62, for a total transaction of $305,709.30. Following the completion of the transaction, the insider now directly owns 123,233 shares of the company’s stock, valued at approximately $2,787,530.46. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 61,793 shares of company stock valued at $1,399,808 in the last three months. 9.43% of the stock is currently owned by company insiders.

Institutional Trading of OFS Credit

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

OFS Credit Trading Up 0.1 %

NASDAQ:OCCI traded up $0.01 during trading hours on Monday, hitting $7.05. The company 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. The company has a market cap of $76.23 million, a P/E ratio of -14.09 and a beta of 1.31. OFS Credit has a 1 year low of $5.47 and a 1 year high of $10.15.

OFS Credit (NASDAQ:OCCI) last issued its earnings results on Friday, March 8th. The company reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $8.44 million during the quarter. On average, analysts forecast that OFS Credit will post 1.14 earnings per share for the current year.

OFS Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 of this dividend is Thursday, April 18th. OFS Credit’s payout ratio is currently -240.00%.

About OFS Credit

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