OFS Capital (OFS) Rating Lowered to Sell at Zacks Investment Research

OFS Capital (NASDAQ:OFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

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. “

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OFS has been the topic of several other reports. ValuEngine lowered shares of OFS Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. National Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of OFS Capital in a research report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $14.67.

OFS Capital stock traded up $0.32 during trading hours on Friday, hitting $12.58. The stock had a trading volume of 113,418 shares, compared to its average volume of 53,984. OFS Capital has a 52-week low of $10.80 and a 52-week high of $15.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 19.34 and a quick ratio of 19.34. The firm has a market cap of $162.35, a PE ratio of 17.00 and a beta of 0.44.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings data on Friday, March 2nd. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). OFS Capital had a return on equity of 8.89% and a net margin of 23.66%. The firm had revenue of $8.29 million during the quarter, compared to analyst estimates of $9.02 million. equities research analysts expect that OFS Capital will post 1.31 earnings per share for the current year.

Several hedge funds have recently modified their holdings of OFS. Advisors Asset Management Inc. grew its stake in shares of OFS Capital by 2.3% during the third quarter. Advisors Asset Management Inc. now owns 415,125 shares of the investment management company’s stock worth $5,467,000 after purchasing an additional 9,315 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of OFS Capital by 139.3% during the third 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 in the last quarter. Western Standard LLC grew its stake in shares of OFS Capital by 2.9% during the third quarter. Western Standard LLC now owns 502,174 shares of the investment management company’s stock worth $6,614,000 after purchasing an additional 14,100 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of OFS Capital by 107.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,080 shares of the investment management company’s stock worth $501,000 after purchasing an additional 19,750 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of OFS Capital by 8.9% during the third quarter. Janney Montgomery Scott LLC now owns 141,339 shares of the investment management company’s stock worth $1,861,000 after purchasing an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

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OFS Capital Company Profile

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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