OFS Capital (NASDAQ:OFS) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened
by Tristan Rich · The Markets DailyOFS Capital Corporation (NASDAQ:OFS – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.97 and traded as low as $3.70. OFS Capital shares last traded at $3.71, with a volume of 30,993 shares.
Wall Street Analysts Forecast Growth
OFS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of OFS Capital in a research report on Thursday, June 4th. Wall Street Zen upgraded OFS Capital from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $7.00.
OFS Capital Trading Up 0.3%
The company has a market cap of $49.85 million, a PE ratio of -1.33 and a beta of 0.84. 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 50 day moving average price of $3.57 and a 200 day moving average price of $3.96.
OFS Capital (NASDAQ:OFS – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The investment management company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $2.56 million during the quarter, compared to analysts’ expectations 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 firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Friday, June 19th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 18.3%. OFS Capital’s dividend payout ratio is currently -24.37%.
Institutional Investors Weigh In On OFS Capital
Several hedge funds have recently bought and sold shares of OFS. Bank of America Corp DE boosted its position in shares of OFS Capital by 245.3% in the 4th 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 in the last quarter. Royal Bank of Canada raised 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 buying an additional 4,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of OFS Capital in the fourth quarter worth $66,000. Concorde Asset Management LLC purchased a new stake in shares of OFS Capital in the first quarter worth $64,000. Finally, Squarepoint Ops LLC bought a new position in shares of OFS Capital during the fourth quarter valued at $202,000. Institutional investors 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.