Todays Report: The OFS Capital Corp. (OFS) Upgraded to Buy by Zacks Investment Research

The OFS Capital Corp. (OFS) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of OFS Capital Corp. (NASDAQ:OFS) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $15.00 price target on the investment management company’s stock.

According to Zacks, “OFS Capital Corporation is a closed-end, non-diversified management investment company. It is engaged in providing capital to North American middle market companies. Its investment objective is to provide its stockholders with both current income and capital appreciation primarily through debt investments and equity investments in asset classes including senior secured, unitranche, second-lien and mezzanine loans. “

Separately, National Securities reaffirmed a buy rating and issued a $15.00 price objective on shares of OFS Capital Corp. in a research report on Monday, August 8th.

OFS Capital Corp. (NASDAQ:OFS) traded up 2.25% during trading on Tuesday, hitting $13.62. 831 shares of the company traded hands. OFS Capital Corp. has a 52 week low of $9.98 and a 52 week high of $14.25. The company’s 50 day moving average is $13.63 and its 200-day moving average is $13.32.

OFS Capital Corp. (NASDAQ:OFS) last announced its quarterly earnings data on Friday, August 5th. The investment management company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. OFS Capital Corp. had a net margin of 44.30% and a return on equity of 10.67%. On average, equities analysts anticipate that OFS Capital Corp. will post $1.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend was Wednesday, September 14th. OFS Capital Corp.’s dividend payout ratio is presently 91.89%.

A number of institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in OFS Capital Corp. by 3.8% in the second quarter. Janney Montgomery Scott LLC now owns 86,877 shares of the investment management company’s stock worth $997,000 after buying an additional 3,143 shares in the last quarter. Mckinley Capital Management LLC Delaware raised its position in OFS Capital Corp. by 15.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 29,560 shares of the investment management company’s stock worth $380,000 after buying an additional 3,957 shares in the last quarter. Acrospire Investment Management LLC raised its position in OFS Capital Corp. by 50.5% in the second quarter. Acrospire Investment Management LLC now owns 12,684 shares of the investment management company’s stock worth $163,000 after buying an additional 4,255 shares in the last quarter. Confluence Investment Management LLC raised its position in OFS Capital Corp. by 1.6% in the second quarter. Confluence Investment Management LLC now owns 370,211 shares of the investment management company’s stock worth $4,757,000 after buying an additional 5,949 shares in the last quarter. Finally, Orinda Asset Management LLC acquired a new position in OFS Capital Corp. during the second quarter worth about $103,000. 22.11% of the stock is owned by institutional investors.

OFS Capital Corp. Company Profile

OFS Capital Corporation (OFS Capital) is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to provide its shareholders with both current income and capital appreciation primarily through debt investments and equity investments. It focuses primarily on middle-market companies in the United States, including senior secured loans, including first-lien, second-lien and unitranche loans, as well as subordinated loans, and warrants and other minority equity securities.

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