OFS Capital (NASDAQ:OFS) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of OFS Capital Corporation (NASDAQ:OFS) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.76 and traded as low as $3.55. OFS Capital shares last traded at $3.59, with a volume of 92,688 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OFS shares. Weiss Ratings restated a “sell (d)” rating on shares of OFS Capital in a research note on Tuesday, September 1st. Zacks Research raised shares of OFS Capital to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded shares of OFS Capital to a “hold” rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

OFS Capital Stock Performance

The company has a market cap of $48.63 million, a P/E ratio of -1.72 and a beta of 0.85. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $3.85 and a 200-day moving average price of $3.76.

OFS Capital (NASDAQ:OFS) last issued its earnings results on Thursday, October 29th. The investment management company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). OFS Capital had a negative net margin of 91.39% and a positive return on equity of 6.09%. The company had revenue of $5.94 million during the quarter, compared to analyst estimates of $6.59 million. On average, equities analysts expect that OFS Capital Corporation will post 0.50 earnings per share for the current fiscal year.

OFS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Friday, December 18th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 18th. This represents a $0.68 annualized dividend and a dividend yield of 18.7%. OFS Capital’s payout ratio is currently -32.23%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OFS Capital stock. Concorde Asset Management LLC increased its holdings in shares of OFS Capital Corporation (NASDAQ:OFS) by 85.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,550 shares of the investment management company’s stock after purchasing an additional 15,450 shares during the period. Concorde Asset Management LLC owned approximately 0.25% of OFS Capital worth $124,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.81% of the company’s stock.

About OFS Capital

OFS Capital Corporation (NASDAQ:OFS) is a business development company that provides financing to privately owned U.S. companies. The company primarily invests in lower middle-market businesses, which are generally companies that may have limited access to traditional bank financing or public capital markets. OFS Capital’s investment activities focus on providing secured loans, subordinated debt and, to a lesser extent, equity investments. Its financing may support acquisitions, recapitalizations, refinancing, growth initiatives and other corporate activities.