OFS Capital (NASDAQ:OFS) Shares Cross Below 200-Day Moving Average – Here’s What Happened

OFS Capital Corporation (NASDAQ:OFS)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.65 and traded as low as $3.58. OFS Capital shares last traded at $3.58, with a volume of 126,812 shares trading hands.

Analyst Ratings Changes

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

OFS Capital Stock Up 1.1%

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 company has a market capitalization of $52.27 million, a PE ratio of -2.36 and a beta of 0.84. The business has a fifty day moving average of $3.57 and a 200 day moving average of $3.65.

OFS Capital (NASDAQ:OFS) last announced its earnings results on Thursday, July 30th. The investment management company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). OFS Capital had a positive return on equity of 7.46% and a negative net margin of 62.24%.The business had revenue of $6.84 million for the quarter, compared to analysts’ expectations of $7.87 million.

OFS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Friday, September 18th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 17.4%. The ex-dividend date is Friday, September 18th. OFS Capital’s dividend payout ratio (DPR) is presently -41.21%.

Institutional Trading of OFS Capital

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in OFS Capital by 245.3% during the 4th quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock worth $57,000 after acquiring an additional 5,029 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of OFS Capital by 53.3% in the 4th quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock valued at $55,000 after purchasing an additional 4,000 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of OFS Capital during the 2nd quarter worth $43,000. Jane Street Group LLC purchased a new stake in shares of OFS Capital during the 4th quarter worth $66,000. Finally, Concorde Asset Management LLC acquired a new position in shares of OFS Capital during the first quarter worth $64,000. Institutional investors and hedge funds own 10.81% of the company’s stock.

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.