Zacks Investment Research downgraded shares of OFS Capital Corporation (NASDAQ:OFS) from a hold rating to a sell rating in a research report report published on Wednesday morning.
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. “
A number of other research analysts have also weighed in on the stock. National Securities cut their target price on shares of OFS Capital Corporation from $16.00 to $15.00 and set a buy rating for the company in a research report on Monday, November 6th. Robert W. Baird downgraded shares of OFS Capital Corporation from an outperform rating to a neutral rating and dropped their price objective for the stock from $16.00 to $13.00 in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. OFS Capital Corporation has a consensus rating of Hold and a consensus price target of $14.67.
OFS Capital Corporation (OFS) traded down $0.17 during trading on Wednesday, reaching $12.10. 91,100 shares of the company’s stock were exchanged, compared to its average volume of 72,518. The firm has a market cap of $163.62, a price-to-earnings ratio of 8.83 and a beta of 0.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 14.51 and a current ratio of 18.38. OFS Capital Corporation has a 52-week low of $12.06 and a 52-week high of $15.23.
OFS Capital Corporation (NASDAQ:OFS) last released its earnings results on Friday, November 3rd. The investment management company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $9.12 million during the quarter, compared to analyst estimates of $8.77 million. OFS Capital Corporation had a net margin of 25.74% and a return on equity of 9.43%. analysts forecast that OFS Capital Corporation will post 1.31 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.36 annualized dividend and a dividend yield of 11.24%. OFS Capital Corporation’s payout ratio is 147.83%.
Several large investors have recently bought and sold shares of OFS. Muzinich & Co. Inc. increased its holdings in shares of OFS Capital Corporation by 258.1% during the 2nd quarter. Muzinich & Co. Inc. now owns 436,837 shares of the investment management company’s stock worth $6,251,000 after purchasing an additional 314,864 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of OFS Capital Corporation by 139.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 91,112 shares of the investment management company’s stock worth $1,190,000 after purchasing an additional 53,030 shares during the period. Punch & Associates Investment Management Inc. increased its holdings in shares of OFS Capital Corporation by 16.9% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 244,750 shares of the investment management company’s stock worth $3,502,000 after purchasing an additional 35,372 shares during the period. Morgan Stanley increased its holdings in shares of OFS Capital Corporation by 25.3% during the 1st quarter. Morgan Stanley now owns 157,167 shares of the investment management company’s stock worth $2,230,000 after purchasing an additional 31,714 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of OFS Capital Corporation during the 2nd quarter worth about $290,000. Institutional investors own 28.56% of the company’s stock.
About OFS Capital Corporation
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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