OFS Capital (NASDAQ:OFS) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

OFS Capital Corporation (NASDAQ:OFS) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.02 and traded as low as $4.91. OFS Capital shares last traded at $4.94, with a volume of 63,700 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OFS. Noble Financial assumed coverage on OFS Capital in a research report on Tuesday, November 4th. They issued a “neutral” rating for the company. Wall Street Zen raised OFS Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Capital One Financial set a $7.00 target price on OFS Capital in a research note on Tuesday, November 4th. Loop Capital set a $7.00 target price on OFS Capital in a report on Tuesday, November 4th. Finally, Weiss Ratings downgraded shares of OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.00.

OFS Capital Price Performance

The stock has a 50-day moving average of $4.96 and a two-hundred day moving average of $7.01. The firm has a market cap of $66.20 million, a price-to-earnings ratio of 20.58 and a beta of 0.85. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.43.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings data on Thursday, October 30th. The investment management company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The firm had revenue of $10.55 million for the quarter, compared to analysts’ expectations of $9.80 million. OFS Capital had a net margin of 7.52% and a return on equity of 8.95%. On average, analysts anticipate that OFS Capital Corporation will post 1.17 EPS for the current year.

OFS Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 19th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 13.8%. The ex-dividend date was Friday, December 19th. OFS Capital’s payout ratio is presently 283.33%.

Institutional Trading of OFS Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Ritholtz Wealth Management acquired a new position in OFS Capital during the second quarter valued at $347,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in OFS Capital by 5.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,166 shares of the investment management company’s stock valued at $533,000 after acquiring an additional 3,105 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of OFS Capital by 16.9% in the 3rd quarter. International Assets Investment Management LLC now owns 168,003 shares of the investment management company’s stock valued at $1,418,000 after purchasing an additional 24,264 shares during the period. Two Sigma Investments LP lifted its position in shares of OFS Capital by 5.8% in the third quarter. Two Sigma Investments LP now owns 120,908 shares of the investment management company’s stock worth $930,000 after purchasing an additional 6,636 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of 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 purchasing an additional 5,029 shares during the period. Institutional investors and hedge funds own 10.81% of the company’s stock.

OFS Capital Company Profile

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.