OFS Capital (NASDAQ:OFS) Announces Earnings Results

OFS Capital (NASDAQ:OFS) announced its quarterly earnings results on Monday. The investment management company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($1.04), FiscalAI reports. The business had revenue of $4.58 million during the quarter, compared to the consensus estimate of $10.50 million. OFS Capital had a net margin of 7.52% and a return on equity of 8.95%.

OFS Capital Price Performance

Shares of OFS remained flat at $4.20 during mid-day trading on Monday. 42,982 shares of the stock traded hands, compared to its average volume of 77,392. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50 day simple moving average of $4.61 and a 200-day simple moving average of $6.04. OFS Capital has a twelve month low of $3.98 and a twelve month high of $9.80.

Institutional Investors Weigh In On OFS Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtus Investment Advisers LLC increased its position in OFS Capital by 24.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 82,221 shares of the investment management company’s stock worth $391,000 after purchasing an additional 15,935 shares during the period. Royal Bank of Canada raised its stake in shares of OFS Capital by 53.3% during the fourth quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock worth $55,000 after buying an additional 4,000 shares during the last quarter. Squarepoint Ops LLC acquired a new position in OFS Capital in the fourth quarter valued at approximately $202,000. Marshall Wace LLP acquired a new stake in OFS Capital during the 4th quarter worth $377,000. Finally, Jane Street Group LLC acquired a new position in shares of OFS Capital in the 4th quarter valued at $66,000. Institutional investors own 10.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Noble Financial started coverage on shares of OFS Capital in a research note on Tuesday, November 4th. They set a “neutral” rating for the company. Capital One Financial set a $7.00 price target on OFS Capital in a research report on Tuesday, November 4th. Weiss Ratings cut OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, January 7th. Loop Capital set a $7.00 target price on shares of OFS Capital in a report on Tuesday, November 4th. Finally, Wall Street Zen raised shares of OFS Capital from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $7.00.

About OFS Capital

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.