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

OFS Capital Corporation (NASDAQ:OFS)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.83 and traded as low as $3.84. OFS Capital shares last traded at $3.88, with a volume of 84,468 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $7.00.

OFS Capital Stock Up 0.5%

The firm has a 50 day moving average price of $4.52 and a 200 day moving average price of $5.83. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.45.

OFS Capital (NASDAQ:OFS) last released its earnings results on Monday, March 2nd. The investment management company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). OFS Capital had a negative net margin of 81.33% and a positive return on equity of 8.75%. The company had revenue of ($17.96) million for the quarter, compared to analysts’ expectations of $10.50 million. Sell-side analysts expect that OFS Capital Corporation will post 1.17 EPS for the current fiscal year.

OFS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, March 20th. This represents a $0.68 dividend on an annualized basis and a yield of 17.5%. OFS Capital’s dividend payout ratio (DPR) is presently -27.53%.

Hedge Funds Weigh In On OFS Capital

A number of hedge funds have recently modified their holdings of OFS. Bank of America Corp DE raised its position in shares of 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 valued at $57,000 after purchasing an additional 5,029 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in OFS Capital by 5.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,166 shares of the investment management company’s stock worth $533,000 after buying an additional 3,105 shares during the period. International Assets Investment Management LLC increased its stake in OFS Capital by 16.9% in the 3rd quarter. International Assets Investment Management LLC now owns 168,003 shares of the investment management company’s stock worth $1,418,000 after buying an additional 24,264 shares in the last quarter. Two Sigma Investments LP raised its holdings in OFS Capital by 5.8% during 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 period. Finally, Jane Street Group LLC purchased a new position in shares of OFS Capital in the fourth quarter valued at about $66,000. 10.81% of the stock is currently owned by institutional investors.

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.