StockNews.com Begins Coverage on OFS Capital (NASDAQ:OFS)

StockNews.com assumed coverage on shares of OFS Capital (NASDAQ:OFS – Get Rating) in a report issued on Thursday morning. The firm issued a hold rating on the investment management company’s stock.

OFS Capital Price Performance

Shares of OFS Capital stock opened at $9.91 on Thursday. The firm has a market capitalization of $132.79 million, a PE ratio of -17.39 and a beta of 1.73. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.86. OFS Capital has a 12 month low of $7.54 and a 12 month high of $13.47. The business’s 50-day moving average price is $10.04 and its 200-day moving average price is $9.89.

OFS Capital (NASDAQ:OFS – Get Rating) last issued its quarterly earnings results on Friday, March 3rd. The investment management company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $13.79 million. OFS Capital had a negative net margin of 15.56% and a positive return on equity of 9.58%. During the same period last year, the business earned $0.33 earnings per share. Sell-side analysts forecast that OFS Capital will post 1.44 EPS for the current fiscal year.

OFS Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 24th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 13.32%. This is a positive change from OFS Capital’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 23rd. OFS Capital’s dividend payout ratio is presently -210.52%.

Institutional Investors Weigh In On OFS Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG grew its position in OFS Capital by 59.3% during the 2nd quarter. UBS Group AG now owns 3,489 shares of the investment management company’s stock worth $35,000 after acquiring an additional 1,299 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of OFS Capital in the fourth quarter worth approximately $75,000. Silver Oak Securities Incorporated purchased a new position in shares of OFS Capital in the fourth quarter worth $102,000. Advisor Group Holdings Inc. raised its holdings in OFS Capital by 122.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,405 shares of the investment management company’s stock valued at $110,000 after buying an additional 4,625 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its position in OFS Capital by 38.3% during the 3rd quarter. Eagle Global Advisors LLC now owns 15,060 shares of the investment management company’s stock valued at $124,000 after buying an additional 4,170 shares during the period. Institutional investors own 13.25% of the company’s stock.

About OFS Capital

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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.