StockNews.com Upgrades OFS Capital (NASDAQ:OFS) to Strong-Buy

StockNews.com upgraded shares of OFS Capital (NASDAQ:OFS) from a hold rating to a strong-buy rating in a report issued on Wednesday.

OFS Capital Stock Performance

Shares of OFS Capital stock opened at $8.93 on Wednesday. The business has a fifty day simple moving average of $8.19 and a two-hundred day simple moving average of $8.22. The firm has a market capitalization of $119.64 million, a P/E ratio of -99.21 and a beta of 1.76. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.55. OFS Capital has a 12 month low of $7.75 and a 12 month high of $10.72.

OFS Capital (NASDAQ:OFS) last posted its quarterly earnings data on Monday, March 3rd. The investment management company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. OFS Capital had a negative net margin of 2.29% and a positive return on equity of 11.26%. The business had revenue of $11.65 million for the quarter, compared to analyst estimates of $10.30 million. On average, equities analysts forecast that OFS Capital will post 1.17 earnings per share for the current fiscal year.

OFS Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 15.23%. The ex-dividend date is Friday, March 21st. OFS Capital’s dividend payout ratio (DPR) is 64.15%.

Hedge Funds Weigh In On OFS Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in OFS Capital by 245.3% during the 4th quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock valued at $57,000 after purchasing an additional 5,029 shares during the last quarter. Jane Street Group LLC bought a new position in shares of OFS Capital in the third quarter worth approximately $115,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of OFS Capital by 44.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,066 shares of the investment management company’s stock valued at $396,000 after buying an additional 15,109 shares during the last quarter. Trexquant Investment LP increased its position in shares of OFS Capital by 36.8% during the fourth quarter. Trexquant Investment LP now owns 60,704 shares of the investment management company’s stock valued at $490,000 after acquiring an additional 16,327 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its holdings in OFS Capital by 15.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 64,344 shares of the investment management company’s stock worth $519,000 after acquiring an additional 8,784 shares during the last quarter. 10.81% of the stock is currently owned by institutional investors.

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.