OFS Capital (NASDAQ:OFS) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

OFS Capital Corporation (NASDAQ:OFS)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.97 and traded as low as $3.70. OFS Capital shares last traded at $3.71, with a volume of 30,993 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OFS. Wall Street Zen raised shares of OFS Capital from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings restated a “sell (d)” rating on shares of OFS Capital in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, OFS Capital has an average rating of “Reduce” and a consensus target price of $7.00.

OFS Capital Stock Down 4.9%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.04 and a current ratio of 0.04. The stock’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $3.97. The stock has a market capitalization of $49.71 million, a PE ratio of -1.33 and a beta of 0.84.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings data on Thursday, April 30th. The investment management company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $2.56 million for the quarter, compared to the consensus estimate of $9.45 million. OFS Capital had a positive return on equity of 8.74% and a negative net margin of 95.15%.

OFS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Friday, June 19th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 18.3%. The ex-dividend date of this dividend was Thursday, June 18th. OFS Capital’s payout ratio is currently -24.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OFS. Marshall Wace LLP bought a new stake in OFS Capital in the fourth quarter worth $377,000. Squarepoint Ops LLC purchased a new position in shares of OFS Capital in the 4th quarter worth about $202,000. Concorde Asset Management LLC bought a new position in OFS Capital in the 1st quarter worth about $64,000. Virtus Investment Advisers LLC grew its position in OFS Capital by 24.0% during the 4th quarter. Virtus Investment Advisers LLC now owns 82,221 shares of the investment management company’s stock valued at $391,000 after purchasing an additional 15,935 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in OFS Capital during the 4th quarter valued at about $66,000. 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 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.