Zacks Investment Research Lowers OFS Capital (NASDAQ:OFS) to Sell

OFS Capital (NASDAQ:OFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, March 16th.

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. “

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OFS has been the topic of several other reports. ValuEngine downgraded shares of OFS Capital from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. National Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of OFS Capital in a report on Tuesday, March 13th.

Shares of NASDAQ:OFS traded down $0.05 during midday trading on Friday, reaching $10.97. The company had a trading volume of 19,588 shares, compared to its average volume of 70,029. The company has a debt-to-equity ratio of 0.88, a quick ratio of 19.34 and a current ratio of 19.34. The company has a market capitalization of $146.34, a P/E ratio of 8.57 and a beta of 0.42. OFS Capital has a 52-week low of $10.74 and a 52-week high of $14.54.

OFS Capital (NASDAQ:OFS) last issued its quarterly earnings results on Friday, March 2nd. The investment management company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The company had revenue of $8.29 million during the quarter, compared to analysts’ expectations of $9.02 million. OFS Capital had a return on equity of 8.89% and a net margin of 23.66%. research analysts predict that OFS Capital will post 1.28 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFS. Advisors Asset Management Inc. lifted its holdings in OFS Capital by 2.3% during the third quarter. Advisors Asset Management Inc. now owns 415,125 shares of the investment management company’s stock valued at $5,467,000 after purchasing an additional 9,315 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in OFS Capital by 139.3% during the third quarter. JPMorgan Chase & Co. now owns 91,112 shares of the investment management company’s stock valued at $1,190,000 after purchasing an additional 53,030 shares during the last quarter. Western Standard LLC lifted its holdings in OFS Capital by 2.9% during the third quarter. Western Standard LLC now owns 502,174 shares of the investment management company’s stock valued at $6,614,000 after purchasing an additional 14,100 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in OFS Capital by 107.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,080 shares of the investment management company’s stock valued at $501,000 after purchasing an additional 19,750 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in OFS Capital by 8.9% during the third quarter. Janney Montgomery Scott LLC now owns 141,339 shares of the investment management company’s stock valued at $1,861,000 after purchasing an additional 11,500 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

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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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