OFS Capital (NASDAQ:OFS) Issues Earnings Results

OFS Capital (NASDAQ:OFS) released its earnings results on Thursday. The investment management company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06), Zacks reports. The business had revenue of $11.99 million for the quarter, compared to analysts’ expectations of $7.87 million. OFS Capital had a positive return on equity of 8.74% and a negative net margin of 95.15%.

OFS Capital Price Performance

OFS Capital stock traded down $0.04 during mid-day trading on Friday, reaching $3.25. The company had a trading volume of 15,449 shares, compared to its average volume of 80,054. The stock’s 50-day simple moving average is $3.53 and its 200-day simple moving average is $3.83. OFS Capital has a 1 year low of $2.72 and a 1 year high of $8.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $43.56 million, a P/E ratio of -1.17 and a beta of 0.84.

OFS Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Friday, September 18th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 20.9%. The ex-dividend date is Friday, September 18th. OFS Capital’s dividend payout ratio is presently -24.37%.

Institutional Trading of OFS Capital

A number of institutional investors have recently bought and sold shares of OFS. Royal Bank of Canada grew its stake in shares of OFS Capital by 53.3% during the 4th 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 period. Bank of America Corp DE raised 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 buying an additional 5,029 shares during the period. Two Sigma Investments LP boosted its holdings in OFS Capital by 5.8% in the third quarter. Two Sigma Investments LP now owns 120,908 shares of the investment management company’s stock valued at $930,000 after acquiring an additional 6,636 shares during the last quarter. Jane Street Group LLC purchased a new stake in OFS Capital during the fourth quarter valued at about $66,000. Finally, Virtus Investment Advisers LLC grew its position in OFS Capital by 24.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 82,221 shares of the investment management company’s stock valued at $391,000 after acquiring an additional 15,935 shares during the period. 10.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, OFS Capital has a consensus rating of “Reduce” and an average price target of $7.00.

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.