OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 221,505 shares, a growth of 55.2% from the July 15th total of 142,677 shares. Based on an average daily trading volume, of 278,350 shares, the short-interest ratio is presently 0.8 days. Approximately 0.8% of the shares of the stock are short sold.
OFS Credit Price Performance
Shares of OCCI opened at $2.58 on Thursday. The firm’s 50 day simple moving average is $2.53 and its 200 day simple moving average is $3.00. The company has a market capitalization of $75.77 million, a P/E ratio of -2.11 and a beta of 0.72. OFS Credit has a 1-year low of $2.15 and a 1-year high of $6.14.
OFS Credit (NASDAQ:OCCI – Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share (EPS) for the quarter. The company had revenue of $9.20 million for the quarter.
OFS Credit Dividend Announcement
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in OFS Credit during the second quarter valued at about $26,000. Kestra Private Wealth Services LLC bought a new stake in OFS Credit during the third quarter worth about $56,000. One Capital Management LLC purchased a new position in shares of OFS Credit in the 3rd quarter worth about $58,000. Virtu Financial LLC purchased a new position in shares of OFS Credit in the 3rd quarter worth about $58,000. Finally, Osaic Holdings Inc. increased its position in shares of OFS Credit by 61.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after purchasing an additional 4,100 shares during the last quarter. 23.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised OFS Credit from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st.
View Our Latest Report on OFS Credit
About OFS Credit
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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