Zacks Investment Research cut shares of OFS Capital (NASDAQ:OFS) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
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. “
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of OFS Capital from a buy rating to a hold rating in a research report on Thursday, November 16th. National Securities cut their price objective on shares of OFS Capital from $16.00 to $15.00 and set a buy rating for the company in a research report on Monday, November 6th. One equities 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 stock. OFS Capital currently has an average rating of Buy and an average target price of $14.67.
OFS Capital (NASDAQ:OFS) last announced its earnings results on Friday, November 3rd. The investment management company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $9.12 million during the quarter, compared to analysts’ expectations of $8.77 million. OFS Capital had a net margin of 25.74% and a return on equity of 9.43%. sell-side analysts forecast that OFS Capital will post 1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.36 annualized dividend and a yield of 11.34%. OFS Capital’s dividend payout ratio is 147.83%.
A number of institutional investors and hedge funds have recently bought and sold shares of OFS. JPMorgan Chase & Co. bought a new stake in OFS Capital during the second quarter worth about $545,000. Muzinich & Co. Inc. lifted its position in OFS Capital by 258.1% during the second quarter. Muzinich & Co. Inc. now owns 436,837 shares of the investment management company’s stock worth $6,251,000 after purchasing an additional 314,864 shares during the period. Punch & Associates Investment Management Inc. lifted its position in OFS Capital by 16.9% during the second quarter. Punch & Associates Investment Management Inc. now owns 244,750 shares of the investment management company’s stock worth $3,502,000 after purchasing an additional 35,372 shares during the period. Western Standard LLC lifted its position in OFS Capital by 1.0% during the second quarter. Western Standard LLC now owns 488,074 shares of the investment management company’s stock worth $6,984,000 after purchasing an additional 4,800 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in OFS Capital during the second quarter worth about $290,000. 28.10% of the stock is owned by institutional investors and hedge funds.
About OFS Capital
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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