OFS Capital (NASDAQ:OFS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of OFS Capital (NASDAQ:OFS) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

Separately, TheStreet lowered OFS Capital from a b- rating to a c rating in a research report on Wednesday, December 1st.

Shares of NASDAQ OFS opened at $10.82 on Tuesday. OFS Capital has a 1-year low of $6.68 and a 1-year high of $11.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.05 and a quick ratio of 0.05. The business’s fifty day moving average price is $11.02 and its two-hundred day moving average price is $10.50. The firm has a market capitalization of $145.19 million, a PE ratio of 2.84, a P/E/G ratio of 1.72 and a beta of 1.81.

OFS Capital (NASDAQ:OFS) last issued its earnings results on Friday, November 5th. The investment management company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01). OFS Capital had a return on equity of 7.04% and a net margin of 117.38%. The company had revenue of $10.59 million during the quarter, compared to analyst estimates of $10.92 million. During the same period in the prior year, the business earned $0.20 earnings per share. Equities research analysts expect that OFS Capital will post 0.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Friday, December 24th were paid a $0.25 dividend. This is a boost from OFS Capital’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, December 22nd. This represents a $1.00 annualized dividend and a dividend yield of 9.24%. OFS Capital’s dividend payout ratio is presently 26.25%.

Several large investors have recently added to or reduced their stakes in OFS. First Trust Advisors LP bought a new position in OFS Capital during the second quarter valued at about $2,859,000. Western Standard LLC boosted its stake in OFS Capital by 22.2% during the second quarter. Western Standard LLC now owns 303,712 shares of the investment management company’s stock valued at $3,025,000 after buying an additional 55,164 shares in the last quarter. Morgan Stanley boosted its stake in OFS Capital by 11.7% during the third quarter. Morgan Stanley now owns 505,577 shares of the investment management company’s stock valued at $5,238,000 after buying an additional 53,113 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in OFS Capital during the third quarter valued at about $343,000. Finally, O Shaughnessy Asset Management LLC bought a new position in OFS Capital during the second quarter valued at about $232,000. 34.12% of the stock is owned by institutional investors.

About OFS Capital

OFS Capital Corporation, formerly OFS Capital, LLC (OFS Capital), is an externally managed, closed-end, non-diversified management investment company. Its investment objective is to provide its stockholders with both current income and capital appreciation primarily through debt investments and equity investments.

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