OFS Capital (NASDAQ:OFS) Stock Crosses Below 200 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 Monday . The stock has a two hundred day moving average of $7.52 and traded as low as $5.02. OFS Capital shares last traded at $5.17, with a volume of 108,505 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OFS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of OFS Capital in a research note on Friday, October 31st. Noble Financial assumed coverage on shares of OFS Capital in a research report on Tuesday, November 4th. They issued a “neutral” rating for the company. Capital One Financial set a $7.00 target price on shares of OFS Capital in a research report on Tuesday, November 4th. Wall Street Zen raised shares of OFS Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Loop Capital set a $7.00 price target on OFS Capital in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.00.

OFS Capital Price Performance

The firm’s fifty day moving average price is $5.82 and its 200 day moving average price is $7.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.04 and a quick ratio of 0.04.

OFS Capital (NASDAQ:OFS) last released its quarterly earnings data on Thursday, October 30th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The business had revenue of $10.55 million for the quarter, compared to the consensus estimate of $9.80 million. OFS Capital had a net margin of 7.52% and a return on equity of 8.95%. Research analysts forecast that OFS Capital Corporation will post 1.17 earnings per share for the current year.

OFS Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 19th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend is Friday, December 19th. OFS Capital’s payout ratio is presently 566.67%.

Hedge Funds Weigh In On OFS Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in OFS. Connor Clark & Lunn Investment Management Ltd. raised its holdings in OFS Capital by 5.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,166 shares of the investment management company’s stock worth $533,000 after purchasing an additional 3,105 shares in the last quarter. Bank of America Corp DE grew its position in shares of OFS Capital by 245.3% in the 4th 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 during the last quarter. Two Sigma Investments LP grew its position in shares of OFS Capital by 5.8% in the 3rd quarter. Two Sigma Investments LP now owns 120,908 shares of the investment management company’s stock worth $930,000 after buying an additional 6,636 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of OFS Capital by 16.9% during the 3rd quarter. International Assets Investment Management LLC now owns 168,003 shares of the investment management company’s stock worth $1,418,000 after acquiring an additional 24,264 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in OFS Capital during the second quarter valued at approximately $347,000. Hedge funds and other institutional investors own 10.81% of the company’s stock.

About OFS Capital

OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.