OFS Capital Corp. (NASDAQ:OFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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 target price on shares of OFS Capital Corp. in a research note on Monday, August 8th.
Shares of OFS Capital Corp. (NASDAQ:OFS) opened at 13.86 on Wednesday. The firm’s 50-day moving average price is $13.61 and its 200 day moving average price is $13.33. OFS Capital Corp. has a 1-year low of $9.98 and a 1-year high of $14.25.
OFS Capital Corp. (NASDAQ:OFS) last announced its quarterly earnings results on Friday, August 5th. The investment management company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. OFS Capital Corp. had a return on equity of 10.67% and a net margin of 44.30%. On average, equities research analysts anticipate that OFS Capital Corp. will post $1.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date of this dividend was Wednesday, September 14th. OFS Capital Corp.’s payout ratio is currently 91.89%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Orinda Asset Management LLC acquired a new position in shares of OFS Capital Corp. during the second quarter valued at $103,000. Acrospire Investment Management LLC acquired a new position in shares of OFS Capital Corp. during the first quarter valued at $109,000. DIAM Co. Ltd. acquired a new position in shares of OFS Capital Corp. during the second quarter valued at $128,000. GSA Capital Partners LLP acquired a new position in shares of OFS Capital Corp. during the second quarter valued at $222,000. Finally, Mckinley Capital Management LLC Delaware increased its position in shares of 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 valued at $380,000 after buying an additional 3,957 shares during the period. Institutional investors own 22.11% of the company’s stock.
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.