OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 129,522 shares, a decline of 46.3% from the June 15th total of 241,000 shares. Based on an average trading volume of 317,151 shares, the short-interest ratio is currently 0.4 days. Currently, 0.4% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised OFS Credit from a “sell” rating to a “hold” rating in a report on Sunday, June 21st.
Read Our Latest Stock Report on OFS Credit
OFS Credit Stock Up 0.4%
OFS Credit (NASDAQ:OCCI – Get Free Report) last issued its quarterly 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 during the quarter.
OFS Credit Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.05 dividend. This represents a c) annualized dividend and a yield of 22.6%. The ex-dividend date of this dividend is Wednesday, July 15th. OFS Credit’s dividend payout ratio (DPR) is currently -91.80%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC lifted its stake in OFS Credit by 0.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after purchasing an additional 3,796 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of OFS Credit by 12.1% in the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock valued at $268,000 after purchasing an additional 10,000 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of OFS Credit during the 1st quarter worth $385,000. NewEdge Advisors LLC lifted its position in shares of OFS Credit by 21.6% during the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after buying an additional 3,138 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in OFS Credit in the fourth quarter valued at about $62,000. 23.77% of the stock is owned by institutional investors.
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.
Further Reading
- Five stocks we like better than OFS Credit
- Blueprint for a Billion: Nebius Group Secures the AI Floor
- As the Iran War Resumes, 2 Energy ETFs Ride Oil’s Renewed Rally
- Tower Semiconductor’s AI Rally Is Built on a Light-Speed Bet
- Marriott vs. Viking: Why the Better Quarter Doesn’t Mean the Better Decade
Receive News & Ratings for OFS Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFS Credit and related companies with MarketBeat.com's FREE daily email newsletter.
