OFS Capital (NASDAQ:OFS) Share Price Breaks Below 200-Day Moving Average – What’s Next?

OFS Capital Corporation (NASDAQ:OFS) shares crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.76 and traded as low as $3.55. OFS Capital shares last traded at $3.59, with a volume of 92,688 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OFS shares. Zacks Research raised OFS Capital to a “hold” rating in a report on Monday, October 5th. Wall Street Zen raised OFS Capital to a “hold” rating in a research note on Saturday, October 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of OFS Capital in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

OFS Capital Stock Performance

The stock’s 50-day moving average is $3.85 and its 200-day moving average is $3.76. The firm has a market capitalization of $48.11 million, a price-to-earnings ratio of -1.70 and a beta of 0.85. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.27.

OFS Capital (NASDAQ:OFS) last issued its quarterly earnings data on Thursday, October 29th. The investment management company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). OFS Capital had a negative net margin of 91.39% and a positive return on equity of 6.09%. The company had revenue of $5.94 million during the quarter, compared to the consensus estimate of $6.59 million. On average, analysts predict that OFS Capital Corporation will post 0.50 EPS for the current fiscal year.

OFS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Friday, December 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 18th. This represents a $0.68 annualized dividend and a dividend yield of 18.9%. OFS Capital’s dividend payout ratio is -32.23%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OFS Capital stock. Concorde Asset Management LLC lifted its position in shares of OFS Capital Corporation (NASDAQ:OFS) by 85.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,550 shares of the investment management company’s stock after acquiring an additional 15,450 shares during the quarter. Concorde Asset Management LLC owned approximately 0.25% of OFS Capital worth $124,000 at the end of the most recent reporting period. 10.81% of the stock is currently owned by institutional investors.

OFS Capital Company Profile

OFS Capital Corporation (NASDAQ:OFS) is a business development company that provides financing to privately owned U.S. companies. The company primarily invests in lower middle-market businesses, which are generally companies that may have limited access to traditional bank financing or public capital markets. OFS Capital’s investment activities focus on providing secured loans, subordinated debt and, to a lesser extent, equity investments. Its financing may support acquisitions, recapitalizations, refinancing, growth initiatives and other corporate activities.