Ares Management LLC Sells 11,475 Shares of OFS Capital Corp (OFS)
Ares Management LLC reduced its stake in OFS Capital Corp (NASDAQ:OFS) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,821 shares of the investment management company’s stock after selling 11,475 shares during the period. Ares Management LLC’s holdings in OFS Capital were worth $1,938,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 53,030 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of 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 buying an additional 19,750 shares during the last quarter. Sigma Planning Corp purchased a new stake in shares of OFS Capital during the fourth quarter valued at $150,000. Janney Montgomery Scott LLC boosted its position in shares of 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 buying an additional 11,500 shares during the last quarter. Finally, Western Standard LLC boosted its position in shares of 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 buying an additional 14,100 shares during the last quarter. 27.11% of the stock is currently owned by hedge funds and other institutional investors.
OFS has been the topic of several recent analyst reports. National Securities dropped their price objective on OFS Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Zacks Investment Research cut OFS Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, ValuEngine cut OFS Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $14.67.
OFS Capital (NASDAQ:OFS) last announced its earnings results on Friday, March 2nd. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm 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 9.43% and a net margin of 25.74%. equities analysts anticipate that OFS Capital Corp will post 1.36 EPS for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 22nd will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a yield of 11.82%. OFS Capital’s payout ratio is 186.30%.
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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