OFS Capital (NASDAQ:OFS) Cut to Buy at StockNews.com

StockNews.com lowered shares of OFS Capital (NASDAQ:OFS) from a strong-buy rating to a buy rating in a report released on Thursday.

OFS Capital Stock Performance

Shares of OFS stock opened at $9.34 on Thursday. The company’s fifty day simple moving average is $8.32 and its 200-day simple moving average is $8.27. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.55. The firm has a market cap of $125.16 million, a PE ratio of -103.77 and a beta of 1.76. OFS Capital has a 12 month low of $7.75 and a 12 month high of $10.15.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings results on Monday, March 3rd. The investment management company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. OFS Capital had a negative net margin of 2.29% and a positive return on equity of 11.26%. The firm had revenue of $11.65 million for the quarter, compared to analyst estimates of $10.30 million. Equities research analysts expect that OFS Capital will post 1.17 EPS for the current fiscal year.

OFS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a $0.34 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.36 annualized dividend and a dividend yield of 14.56%. OFS Capital’s dividend payout ratio (DPR) is presently 64.15%.

Hedge Funds Weigh In On OFS Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its stake in OFS Capital by 245.3% during the fourth quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock worth $57,000 after buying an additional 5,029 shares in the last quarter. Jane Street Group LLC acquired a new stake in OFS Capital during the third quarter worth about $115,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in OFS Capital by 44.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,066 shares of the investment management company’s stock worth $396,000 after buying an additional 15,109 shares in the last quarter. Trexquant Investment LP grew its stake in OFS Capital by 36.8% during the fourth quarter. Trexquant Investment LP now owns 60,704 shares of the investment management company’s stock worth $490,000 after buying an additional 16,327 shares in the last quarter. Finally, Virtus ETF Advisers LLC grew its stake in OFS Capital by 15.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 64,344 shares of the investment management company’s stock worth $519,000 after buying an additional 8,784 shares in the last quarter. 10.81% of the stock is currently owned by institutional investors and hedge funds.

About OFS Capital

OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.