OFS Capital Corporation (NASDAQ:OFS) Short Interest Update

OFS Capital Corporation (NASDAQ:OFS) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 230,913 shares, an increase of 26.9% from the February 26th total of 182,001 shares. Based on an average daily trading volume, of 100,315 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings cut OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $7.00.

Institutional Investors Weigh In On OFS Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in OFS Capital by 245.3% during the fourth quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock worth $57,000 after buying an additional 5,029 shares in the last quarter. Royal Bank of Canada lifted its position in shares of OFS Capital by 53.3% in the fourth quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock valued at $55,000 after acquiring an additional 4,000 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of OFS Capital during the fourth quarter valued at $66,000. Squarepoint Ops LLC purchased a new stake in OFS Capital during the 4th quarter worth about $202,000. Finally, Marshall Wace LLP purchased a new stake in OFS Capital during the 4th quarter worth about $377,000. Hedge funds and other institutional investors own 10.81% of the company’s stock.

OFS Capital Price Performance

Shares of OFS Capital stock traded up $0.35 on Tuesday, hitting $3.55. The company’s stock had a trading volume of 229,966 shares, compared to its average volume of 152,295. OFS Capital has a 52-week low of $2.72 and a 52-week high of $9.52. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $4.02 and a 200-day moving average price of $5.26. The company has a market capitalization of $47.57 million, a P/E ratio of -1.44 and a beta of 0.86.

OFS Capital (NASDAQ:OFS) last posted its earnings results on Monday, March 2nd. The investment management company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The business had revenue of ($9.10) million for the quarter, compared to analysts’ expectations of $10.50 million. OFS Capital had a negative net margin of 81.33% and a positive return on equity of 8.75%. On average, equities research analysts expect that OFS Capital will post 1.17 earnings per share for the current fiscal year.

OFS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date of this dividend is Friday, March 20th. OFS Capital’s dividend payout ratio (DPR) is -27.53%.

About OFS Capital

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.