OFS Capital (NASDAQ:OFS) Shares Pass Below 200-Day Moving Average – Here’s Why

OFS Capital Corporation (NASDAQ:OFS) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.51 and traded as low as $8.50. OFS Capital shares last traded at $8.53, with a volume of 32,943 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of OFS Capital from a “buy” rating to a “hold” rating in a research report on Monday, May 5th.

OFS Capital Stock Down 0.5%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.04 and a current ratio of 0.04. The business’s 50-day simple moving average is $8.64 and its two-hundred day simple moving average is $8.51.

OFS Capital (NASDAQ:OFS) last announced its quarterly earnings data on Thursday, May 1st. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.07). The business had revenue of $10.30 million during the quarter, compared to analyst estimates of $11.90 million. OFS Capital had a net margin of 68.61% and a return on equity of 9.14%. As a group, equities research analysts predict that OFS Capital Corporation will post 1.17 earnings per share for the current fiscal year.

OFS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 15.94%. The ex-dividend date was Friday, June 20th. OFS Capital’s dividend payout ratio (DPR) is currently 60.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. NBC Securities Inc. grew its holdings in OFS Capital by 130,533.3% during the 1st quarter. NBC Securities Inc. now owns 3,919 shares of the investment management company’s stock worth $36,000 after acquiring an additional 3,916 shares in the last quarter. Bulldog Investors LLP acquired a new position in OFS Capital during the 4th quarter worth approximately $916,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in OFS Capital by 44.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,066 shares of the investment management company’s stock worth $396,000 after acquiring an additional 15,109 shares in the last quarter. Trexquant Investment LP grew its holdings in OFS Capital by 36.8% during the 4th quarter. Trexquant Investment LP now owns 60,704 shares of the investment management company’s stock worth $490,000 after acquiring an additional 16,327 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in OFS Capital by 3.0% during the 1st quarter. International Assets Investment Management LLC now owns 143,597 shares of the investment management company’s stock worth $1,334,000 after acquiring an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 10.81% of the company’s stock.

OFS Capital Company Profile

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.