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

OFS Capital Corporation (NASDAQ:OFS) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $3.61 and traded as low as $3.51. OFS Capital shares last traded at $3.58, with a volume of 26,080 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of OFS Capital in a report on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.00.

OFS Capital Trading Up 0.3%

The firm has a market capitalization of $48.11 million, a price-to-earnings ratio of -2.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.04 and a current ratio of 0.04. The business has a fifty day moving average price of $3.66 and a 200 day moving average price of $3.61.

OFS Capital (NASDAQ:OFS) last issued its earnings results on Thursday, July 30th. The investment management company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). OFS Capital had a positive return on equity of 7.46% and a negative net margin of 62.24%.The firm had revenue of $6.84 million during the quarter, compared to analysts’ expectations of $7.87 million.

OFS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Friday, September 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 18.9%. The ex-dividend date is Friday, September 18th. OFS Capital’s dividend payout ratio (DPR) is -41.21%.

Institutional Trading of OFS Capital

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 second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,550 shares of the investment management company’s stock after purchasing an additional 15,450 shares during the quarter. Concorde Asset Management LLC owned 0.25% of OFS Capital worth $124,000 as of its most recent filing with the SEC. 10.81% of the stock is currently owned by institutional investors and hedge funds.

OFS Capital Company Profile

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides financing to privately held, middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing and works with management teams, private equity sponsors and other financial partners.

OFS Capital primarily invests in customized debt instruments, including first-lien, second-lien and subordinated loans. It may also make equity and equity-related investments, such as preferred and common stock, as part of its efforts to provide flexible capital solutions.