OFS Capital (NASDAQ:OFS) Cut to Buy at StockNews.com

StockNews.com lowered shares of OFS Capital (NASDAQ:OFS) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

OFS Capital Trading Up 3.7 %

Shares of OFS stock opened at $9.34 on Thursday. OFS Capital has a twelve month low of $7.75 and a twelve month high of $10.15. The stock’s fifty day simple moving average is $8.32 and its 200 day simple moving average is $8.27. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $125.16 million, a P/E ratio of -103.77 and a beta of 1.76.

OFS Capital (NASDAQ:OFS) last posted its earnings results on Monday, March 3rd. The investment management company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $11.65 million during the quarter, compared to the consensus estimate of $10.30 million. OFS Capital had a positive return on equity of 11.26% and a negative net margin of 2.29%. As a group, sell-side analysts predict that OFS Capital will post 1.17 EPS for the current fiscal year.

OFS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be given a $0.34 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.36 annualized dividend and a yield of 14.56%. OFS Capital’s dividend payout ratio is presently 64.15%.

Hedge Funds Weigh In On OFS Capital

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of OFS Capital by 245.3% in the fourth quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock valued at $57,000 after buying an additional 5,029 shares during the period. Jane Street Group LLC acquired a new stake in shares of OFS Capital in the third quarter valued at about $115,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of OFS Capital by 44.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,066 shares of the investment management company’s stock valued at $396,000 after buying an additional 15,109 shares during the period. Trexquant Investment LP increased its stake in shares of OFS Capital by 36.8% in the fourth quarter. Trexquant Investment LP now owns 60,704 shares of the investment management company’s stock valued at $490,000 after buying an additional 16,327 shares during the period. Finally, Virtus ETF Advisers LLC increased its stake in shares of OFS Capital by 15.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 64,344 shares of the investment management company’s stock valued at $519,000 after buying an additional 8,784 shares during the period. 10.81% of the stock is currently owned by 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 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.