OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 202,452 shares, a decrease of 45.6% from the May 14th total of 371,889 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 204,518 shares, the days-to-cover ratio is presently 1.0 days.
OFS Credit Price Performance
OFS Credit stock traded down $0.09 during mid-day trading on Friday, hitting $2.98. 191,317 shares of the company’s stock traded hands, compared to its average volume of 170,532. The firm has a 50 day simple moving average of $3.19 and a two-hundred day simple moving average of $3.80. OFS Credit has a fifty-two week low of $2.62 and a fifty-two week high of $6.38. The stock has a market cap of $86.68 million, a price-to-earnings ratio of -2.44 and a beta of 0.68.
OFS Credit (NASDAQ:OCCI – Get Free Report) last announced its quarterly earnings results on Monday, June 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.11). The business had revenue of $9.20 million during the quarter, compared to analyst estimates of $11.16 million.
OFS Credit Announces Dividend
Analyst Ratings Changes
Separately, Wall Street Zen downgraded OFS Credit from a “hold” rating to a “sell” rating in a report on Saturday.
View Our Latest Stock Analysis on OFS Credit
Institutional Investors Weigh In On OFS Credit
Hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its position in OFS Credit by 12.1% during the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after buying an additional 10,000 shares during the period. Virtus Investment Advisers LLC increased its position in OFS Credit by 0.9% during the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after buying an additional 3,796 shares during the period. Commonwealth Equity Services LLC bought a new position in OFS Credit during the 4th quarter worth $62,000. StoneX Group Inc. bought a new position in OFS Credit during the 4th quarter worth $55,000. Finally, Kestra Private Wealth Services LLC bought a new position in OFS Credit during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 23.77% of the company’s stock.
OFS Credit Company Profile
OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.
The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.
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