OFS Capital Corp (OFS) Downgraded by Zacks Investment Research to Sell

OFS Capital Corp (NASDAQ:OFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, November 8th.

According to Zacks, “OFS Capital Corporation is a closed-end, non-diversified management investment company. It is engaged in providing capital to North American middle market companies. Its investment objective is to provide its stockholders with both current income and capital appreciation primarily through debt investments and equity investments in asset classes including senior secured, unitranche, second-lien and mezzanine loans. “

Several other equities research analysts also recently weighed in on the stock. National Securities decreased their target price on shares of OFS Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Robert W. Baird cut shares of OFS Capital from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $13.00 in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.67.

Shares of OFS Capital (NASDAQ OFS) traded down $0.13 on Wednesday, hitting $12.19. 65,770 shares of the stock traded hands, compared to its average volume of 39,532. OFS Capital has a twelve month low of $11.80 and a twelve month high of $15.23. The firm has a market capitalization of $162.55, a P/E ratio of 8.86 and a beta of 0.52. The company has a quick ratio of 18.38, a current ratio of 18.38 and a debt-to-equity ratio of 0.87.

OFS Capital (NASDAQ:OFS) last announced its earnings results on Friday, November 3rd. The investment management company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. OFS Capital had a net margin of 25.74% and a return on equity of 9.43%. The business had revenue of $9.12 million during the quarter, compared to the consensus estimate of $8.77 million. sell-side analysts forecast that OFS Capital will post 1.31 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Muzinich & Co. Inc. increased its holdings in OFS Capital by 258.1% in the second quarter. Muzinich & Co. Inc. now owns 436,837 shares of the investment management company’s stock valued at $6,251,000 after buying an additional 314,864 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in OFS Capital by 139.3% in the third quarter. JPMorgan Chase & Co. now owns 91,112 shares of the investment management company’s stock valued at $1,190,000 after buying an additional 53,030 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in OFS Capital by 16.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 244,750 shares of the investment management company’s stock valued at $3,502,000 after buying an additional 35,372 shares in the last quarter. Morgan Stanley increased its holdings in OFS Capital by 25.3% in the first quarter. Morgan Stanley now owns 157,167 shares of the investment management company’s stock valued at $2,230,000 after buying an additional 31,714 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in OFS Capital in the second quarter valued at about $290,000. 28.65% of the stock is owned by hedge funds and other institutional investors.

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OFS Capital Company Profile

OFS Capital Corporation (OFS Capital) is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to provide its shareholders with both current income and capital appreciation primarily through debt investments and equity investments. It focuses primarily on middle-market companies in the United States, including senior secured loans, including first-lien, second-lien and unitranche loans, as well as subordinated loans, and warrants and other minority equity securities.

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