OFS Capital (OFS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of OFS Capital (NASDAQ:OFS) from a hold rating to a sell rating in a research report released 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. “

A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of OFS Capital from a hold rating to a buy rating in a research note on Friday, December 1st. National Securities cut their price target on shares of OFS Capital from $16.00 to $15.00 and set a buy rating on the stock in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. OFS Capital presently has an average rating of Buy and a consensus target price of $14.67.

OFS Capital (NASDAQ:OFS) traded down $0.10 during trading on Wednesday, reaching $12.06. 36,260 shares of the company traded hands, compared to its average volume of 37,167. OFS Capital has a twelve month low of $11.80 and a twelve month high of $15.23. The company has a market cap of $159.28, a price-to-earnings ratio of 13.25 and a beta of 0.48. The company has a quick ratio of 18.38, a current ratio of 18.38 and a debt-to-equity ratio of 0.87.

OFS Capital (NASDAQ:OFS) last released its quarterly earnings data on Friday, November 3rd. The investment management company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. OFS Capital had a net margin of 25.74% and a return on equity of 9.43%. The business had revenue of $9.12 million for the quarter, compared to analyst estimates of $8.77 million. research analysts anticipate that OFS Capital will post 1.31 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date of this dividend was Thursday, December 14th. OFS Capital’s payout ratio is currently 149.45%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in shares of OFS Capital by 8.9% in the third quarter. Janney Montgomery Scott LLC now owns 141,339 shares of the investment management company’s stock valued at $1,861,000 after purchasing an additional 11,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of OFS Capital by 107.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,080 shares of the investment management company’s stock valued at $501,000 after purchasing an additional 19,750 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of OFS Capital by 2.3% in the third quarter. Advisors Asset Management Inc. now owns 415,125 shares of the investment management company’s stock valued at $5,467,000 after purchasing an additional 9,315 shares during the last quarter. Western Standard LLC raised its holdings in shares of OFS Capital by 2.9% in the third quarter. Western Standard LLC now owns 502,174 shares of the investment management company’s stock valued at $6,614,000 after purchasing an additional 14,100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of OFS Capital in the second quarter valued at approximately $290,000. 28.10% of the stock is currently owned by hedge funds and other institutional investors.

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About OFS Capital

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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