OFS Capital (NASDAQ:OFS) Shares Break Below Two Hundred Day Moving Average – What’s Next?

OFS Capital Corporation (NASDAQ:OFS)’s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $3.61 and traded as low as $3.47. OFS Capital shares last traded at $3.48, with a volume of 86,341 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of OFS Capital in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $7.00.

OFS Capital Stock Performance

The stock has a market capitalization of $46.63 million, a price-to-earnings ratio of -2.11 and a beta of 0.86. The stock has a fifty day simple moving average of $3.68 and a two-hundred day simple moving average of $3.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.04 and a current ratio of 0.04.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings results on Thursday, July 30th. The investment management company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). OFS Capital had a positive return on equity of 7.46% and a negative net margin of 62.24%.The company had revenue of $6.84 million during the quarter, compared to analyst estimates of $7.87 million.

OFS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Friday, September 18th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 19.5%. The ex-dividend date of this dividend is Friday, September 18th. OFS Capital’s dividend payout ratio is presently -41.21%.

Hedge Funds Weigh In On OFS Capital

An institutional investor recently bought a new stake in OFS Capital stock. Sanctuary Advisors LLC purchased a new stake in shares of OFS Capital Corporation (NASDAQ:OFS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,102 shares of the investment management company’s stock, valued at approximately $43,000. Sanctuary Advisors LLC owned approximately 0.09% of OFS Capital at the end of the most recent quarter. Institutional investors own 10.81% of the company’s stock.

About OFS Capital

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides financing to privately held, middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing and works with management teams, private equity sponsors and other financial partners.

OFS Capital primarily invests in customized debt instruments, including first-lien, second-lien and subordinated loans. It may also make equity and equity-related investments, such as preferred and common stock, as part of its efforts to provide flexible capital solutions.