OFS Capital (NASDAQ:OFS) Stock Price Passes Below 200 Day Moving Average – What’s Next?

OFS Capital Corporation (NASDAQ:OFS)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.15 and traded as low as $3.60. OFS Capital shares last traded at $3.79, with a volume of 47,908 shares trading hands.

Wall Street Analysts Forecast Growth

OFS has been the subject of several recent analyst reports. Wall Street Zen raised shares of OFS Capital from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of OFS Capital in a report on Thursday, June 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $7.00.

OFS Capital Price Performance

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $4.15. The stock has a market cap of $50.79 million, a price-to-earnings ratio of -1.36 and a beta of 0.86.

OFS Capital (NASDAQ:OFS) last issued its quarterly earnings results on Thursday, April 30th. The investment management company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The business had revenue of $2.56 million for the quarter, compared to analyst estimates of $9.45 million. OFS Capital had a positive return on equity of 8.74% and a negative net margin of 95.15%.

OFS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Friday, June 19th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.68 dividend on an annualized basis and a yield of 17.9%. OFS Capital’s dividend payout ratio is -24.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position 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 valued at $57,000 after buying an additional 5,029 shares during the last quarter. Royal Bank of Canada increased its stake in OFS Capital by 53.3% during the fourth quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock valued at $55,000 after acquiring an additional 4,000 shares during the period. Jane Street Group LLC bought a new position in OFS Capital during the fourth quarter valued at about $66,000. Concorde Asset Management LLC acquired a new position in OFS Capital in the 1st quarter valued at approximately $64,000. Finally, Squarepoint Ops LLC acquired a new position in OFS Capital in the 4th quarter valued at approximately $202,000. Institutional investors own 10.81% of the company’s stock.

About OFS Capital

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.