OFS Capital Corp (NASDAQ:OFS) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 25,300 shares, a growth of 40.6% from the July 31st total of 18,000 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 43,900 shares, the short-interest ratio is currently 0.6 days.
A number of hedge funds and other institutional investors have recently made changes to their positions in OFS. Sigma Planning Corp grew its holdings in OFS Capital by 5.7% during the first quarter. Sigma Planning Corp now owns 21,644 shares of the investment management company’s stock valued at $254,000 after purchasing an additional 1,172 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of OFS Capital by 19.7% during the first quarter. Wedge Capital Management L L P NC now owns 75,564 shares of the investment management company’s stock worth $888,000 after acquiring an additional 12,427 shares in the last quarter. Advisor Group Inc. lifted its position in shares of OFS Capital by 380.7% during the second quarter. Advisor Group Inc. now owns 4,807 shares of the investment management company’s stock worth $58,000 after acquiring an additional 3,807 shares in the last quarter. Mckinley Capital Management LLC Delaware lifted its position in shares of OFS Capital by 3.8% during the second quarter. Mckinley Capital Management LLC Delaware now owns 97,155 shares of the investment management company’s stock worth $1,166,000 after acquiring an additional 3,556 shares in the last quarter. Finally, BB&T Securities LLC lifted its position in shares of OFS Capital by 9.3% during the second quarter. BB&T Securities LLC now owns 443,496 shares of the investment management company’s stock worth $5,321,000 after acquiring an additional 37,916 shares in the last quarter. 19.96% of the stock is owned by institutional investors and hedge funds.
OFS has been the subject of several recent analyst reports. LADENBURG THALM/SH SH raised OFS Capital from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, August 5th. Zacks Investment Research lowered OFS Capital from a “buy” rating to a “sell” rating in a report on Friday, May 17th. Finally, ValuEngine lowered OFS Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.67.
OFS Capital (NASDAQ:OFS) last released its earnings results on Friday, August 2nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $12.90 million during the quarter, compared to analyst estimates of $12.40 million. OFS Capital had a return on equity of 11.16% and a net margin of 16.74%. As a group, research analysts predict that OFS Capital will post 1.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 11.65%. The ex-dividend date is Friday, September 20th. OFS Capital’s dividend payout ratio is presently 98.55%.
OFS Capital Company Profile
OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It does not invest in operational turnarounds or start-up businesses. For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies.
Further Reading: Growth Stocks
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