OFS Capital (NASDAQ:OFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $13.00 price target on the investment management company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.06% from the company’s current price.
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. “
OFS has been the subject of a number of other reports. LADENBURG THALM/SH SH downgraded OFS Capital from a “buy” rating to a “neutral” rating in a research note on Monday. ValuEngine downgraded OFS Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. OFS Capital presently has an average rating of “Hold” and a consensus price target of $13.33.
OFS Capital (NASDAQ:OFS) last issued its earnings results on Friday, November 8th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $13.86 million during the quarter, compared to the consensus estimate of $13.10 million. OFS Capital had a return on equity of 11.41% and a net margin of 9.20%. As a group, equities research analysts anticipate that OFS Capital will post 1.44 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFS. Sigma Planning Corp boosted its holdings in shares of OFS Capital by 7.1% during the third quarter. Sigma Planning Corp now owns 22,568 shares of the investment management company’s stock worth $262,000 after purchasing an additional 1,493 shares during the last quarter. Advisor Group Inc. raised its position in OFS Capital by 380.7% in the second quarter. Advisor Group Inc. now owns 4,807 shares of the investment management company’s stock valued at $58,000 after purchasing an additional 3,807 shares during the period. BB&T Securities LLC raised its position in OFS Capital by 9.3% in the second quarter. BB&T Securities LLC now owns 443,496 shares of the investment management company’s stock valued at $5,321,000 after purchasing an additional 37,916 shares during the period. Virtus ETF Advisers LLC purchased a new position in OFS Capital in the second quarter valued at about $1,843,000. Finally, Concorde Asset Management LLC purchased a new position in OFS Capital in the third quarter valued at about $221,000. 19.60% of the stock is owned by hedge funds and other institutional investors.
About OFS Capital
OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It does not invest in operational turnarounds or start-up businesses. For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies.
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