Zacks Investment Research Upgrades OFS Capital Corp. (OFS) to Buy
OFS Capital Corp. (NASDAQ:OFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $15.00 target price on the investment management company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 10.62% from the company’s previous close.
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, National Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of OFS Capital Corp. in a research note on Monday, August 8th.
Shares of OFS Capital Corp. (NASDAQ:OFS) opened at 13.56 on Tuesday. OFS Capital Corp. has a 1-year low of $9.98 and a 1-year high of $14.25. The firm has a 50-day moving average of $13.64 and a 200 day moving average of $13.32.
OFS Capital Corp. (NASDAQ:OFS) last issued its quarterly earnings results on Friday, August 5th. The investment management company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. OFS Capital Corp. had a net margin of 44.30% and a return on equity of 10.67%. Equities analysts predict that OFS Capital Corp. will post $1.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 10.03%. The ex-dividend date of this dividend was Wednesday, September 14th. OFS Capital Corp.’s dividend payout ratio is presently 91.89%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Orinda Asset Management LLC acquired a new stake in OFS Capital Corp. during the second quarter valued at approximately $103,000. Acrospire Investment Management LLC acquired a new stake in OFS Capital Corp. during the first quarter valued at approximately $109,000. DIAM Co. Ltd. acquired a new stake in OFS Capital Corp. during the second quarter valued at approximately $128,000. GSA Capital Partners LLP acquired a new stake in OFS Capital Corp. during the second quarter valued at approximately $222,000. Finally, Mckinley Capital Management LLC Delaware raised its stake in OFS Capital Corp. by 15.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 29,560 shares of the investment management company’s stock valued at $380,000 after buying an additional 3,957 shares in the last quarter. 22.11% of the stock is owned by institutional investors and hedge funds.
OFS Capital Corp. Company Profile
OFS Capital Corporation (OFS Capital) is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to provide its shareholders with both current income and capital appreciation primarily through debt investments and equity investments. It focuses primarily on middle-market companies in the United States, including senior secured loans, including first-lien, second-lien and unitranche loans, as well as subordinated loans, and warrants and other minority equity securities.
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