OFS Capital Corp (OFS) Holdings Cut by Advisors Asset Management Inc.
Advisors Asset Management Inc. reduced its position in shares of OFS Capital Corp (NASDAQ:OFS) by 97.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,277 shares of the investment management company’s stock after selling 379,844 shares during the quarter. Advisors Asset Management Inc. owned 0.07% of OFS Capital worth $3,961,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in OFS. Punch & Associates Investment Management Inc. increased its stake in shares of OFS Capital by 1.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 255,753 shares of the investment management company’s stock worth $2,870,000 after acquiring an additional 4,775 shares during the last quarter. UBS Group AG increased its stake in shares of OFS Capital by 6.0% in the first quarter. UBS Group AG now owns 302,083 shares of the investment management company’s stock worth $3,390,000 after acquiring an additional 16,989 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of OFS Capital by 48.5% in the first quarter. JPMorgan Chase & Co. now owns 201,187 shares of the investment management company’s stock worth $2,257,000 after acquiring an additional 65,746 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its stake in shares of OFS Capital by 41.9% in the first quarter. Freestone Capital Holdings LLC now owns 233,542 shares of the investment management company’s stock worth $2,620,000 after acquiring an additional 68,906 shares during the last quarter. 24.50% of the stock is currently owned by institutional investors.
OFS Capital stock opened at $12.00 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 5.00 and a current ratio of 5.00. The firm has a market cap of $160.20 million, a price-to-earnings ratio of 9.38 and a beta of 0.50. OFS Capital Corp has a one year low of $10.41 and a one year high of $13.24.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 11.33%. The ex-dividend date of this dividend is Thursday, September 13th. OFS Capital’s payout ratio is 106.25%.
A number of research firms have recently weighed in on OFS. ValuEngine downgraded shares of OFS Capital from a “hold” rating to a “sell” rating in a research note on Saturday. TheStreet raised shares of OFS Capital from a “c” rating to a “b” rating in a research note on Wednesday, August 29th. National Securities reissued a “buy” rating and set a $15.00 target price on shares of OFS Capital in a research report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of OFS Capital from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th.
About OFS Capital
OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It does not invest in operational turnarounds or start-up businesses. For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies.
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