OFS Capital (NASDAQ:OFS) Stock Price Passes Below Two Hundred Day Moving Average Following Weak Earnings

Shares of OFS Capital Corporation (NASDAQ:OFS) passed below its 200-day moving average during trading on Thursday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $8.31 and traded as low as $6.90. OFS Capital shares last traded at $6.98, with a volume of 43,547 shares.

The investment management company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $10.55 million during the quarter, compared to analysts’ expectations of $9.80 million. OFS Capital had a return on equity of 9.16% and a net margin of 23.64%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OFS shares. Wall Street Zen downgraded shares of OFS Capital from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of OFS Capital in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Institutional Trading of OFS Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of OFS Capital by 5.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,166 shares of the investment management company’s stock valued at $533,000 after buying an additional 3,105 shares in the last quarter. Ritholtz Wealth Management purchased a new position in OFS Capital in the 2nd quarter valued at approximately $347,000. Fort Sheridan Advisors LLC bought a new stake in OFS Capital during the 1st quarter valued at $100,000. Finally, Bank of America Corp DE lifted its position 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 worth $57,000 after acquiring an additional 5,029 shares in the last quarter. Institutional investors own 10.81% of the company’s stock.

OFS Capital Trading Down 0.1%

The firm has a 50-day simple moving average of $7.89 and a 200-day simple moving average of $8.31. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43.

OFS Capital Company Profile

OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.