Shares of OFS Capital Corporation (NASDAQ:OFS – Get Free Report) passed below its 200-day moving average during trading on Friday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $3.81 and traded as low as $3.49. OFS Capital shares last traded at $3.59, with a volume of 144,265 shares changing hands.
The investment management company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $5.94 million for the quarter, compared to analysts’ expectations of $6.59 million. OFS Capital had a negative net margin of 91.39% and a positive return on equity of 5.87%.
OFS Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Friday, December 18th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 18.9%. The ex-dividend date is Friday, December 18th. OFS Capital’s dividend payout ratio (DPR) is -41.21%.
Analyst Ratings Changes
A number of analysts recently commented on the company. Zacks Research upgraded OFS Capital to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings reissued a “sell (d)” rating on shares of OFS Capital in a research report on Tuesday, September 1st. Finally, Wall Street Zen raised OFS Capital to a “hold” rating in a research report on Saturday, October 10th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.00.
Institutional Investors Weigh In On OFS Capital
A hedge fund recently raised its stake in OFS Capital stock. Concorde Asset Management LLC lifted its stake in OFS Capital Corporation (NASDAQ:OFS – Free Report) by 85.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,550 shares of the investment management company’s stock after purchasing an additional 15,450 shares during the period. Concorde Asset Management LLC owned 0.25% of OFS Capital worth $124,000 at the end of the most recent reporting period. 10.81% of the stock is currently owned by hedge funds and other institutional investors.
OFS Capital Trading Down 10.5%
The stock has a fifty day moving average of $3.84 and a 200 day moving average of $3.81. The company has a market capitalization of $48.11 million, a P/E ratio of -1.70 and a beta of 0.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.04 and a current ratio of 0.04.
OFS Capital Company Profile
OFS Capital Corporation (NASDAQ:OFS) is a business development company that provides financing to privately owned U.S. companies. The company primarily invests in lower middle-market businesses, which are generally companies that may have limited access to traditional bank financing or public capital markets.
OFS Capital’s investment activities focus on providing secured loans, subordinated debt and, to a lesser extent, equity investments. Its financing may support acquisitions, recapitalizations, refinancing, growth initiatives and other corporate activities.
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