OFS Capital (NASDAQ:OFS) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

OFS Capital Corporation (NASDAQ:OFS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.73 and traded as high as $3.87. OFS Capital shares last traded at $3.60, with a volume of 53,008 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of OFS Capital in a research note on Thursday, June 4th. Wall Street Zen upgraded OFS Capital from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, OFS Capital currently has a consensus rating of “Reduce” and an average target price of $7.00.

OFS Capital Price Performance

The business has a 50-day moving average of $3.58 and a two-hundred day moving average of $3.73. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.33. The firm has a market cap of $48.11 million, a P/E ratio of -2.18 and a beta of 0.85.

OFS Capital (NASDAQ:OFS) last posted its earnings results on Thursday, July 30th. The investment management company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). OFS Capital had a negative net margin of 62.24% and a positive return on equity of 7.46%. The firm had revenue of $11.99 million during the quarter, compared to the consensus estimate of $7.87 million.

OFS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Friday, September 18th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, September 18th. This represents a $0.68 annualized dividend and a yield of 18.9%. OFS Capital’s dividend payout ratio (DPR) is currently -41.21%.

Hedge Funds Weigh In On OFS Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake 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 acquiring an additional 5,029 shares during the last quarter. Royal Bank of Canada grew its stake in shares of OFS Capital by 53.3% in the fourth quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock worth $55,000 after purchasing an additional 4,000 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in OFS Capital in the second quarter valued at $43,000. Jane Street Group LLC acquired a new stake in OFS Capital in the fourth quarter valued at $66,000. Finally, Concorde Asset Management LLC bought a new position in OFS Capital during the 1st quarter worth $64,000. 10.81% of the stock is currently owned by institutional investors and hedge funds.

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.