OFS Capital Corporation (OFS) is Western Standard LLC’s 2nd Largest Position
Western Standard LLC raised its holdings in OFS Capital Corporation (NASDAQ:OFS) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 488,074 shares of the investment management company’s stock after acquiring an additional 4,800 shares during the quarter. OFS Capital Corporation comprises 9.5% of Western Standard LLC’s portfolio, making the stock its 2nd largest position. Western Standard LLC’s holdings in OFS Capital Corporation were worth $6,984,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Two Sigma Securities LLC acquired a new position in shares of OFS Capital Corporation during the 1st quarter worth about $188,000. Wells Fargo & Company MN increased its stake in shares of OFS Capital Corporation by 243.0% in the 1st quarter. Wells Fargo & Company MN now owns 14,929 shares of the investment management company’s stock valued at $212,000 after acquiring an additional 10,577 shares during the last quarter. Shikiar Asset Management Inc. increased its stake in shares of OFS Capital Corporation by 24.8% in the 2nd quarter. Shikiar Asset Management Inc. now owns 24,950 shares of the investment management company’s stock valued at $357,000 after acquiring an additional 4,950 shares during the last quarter. Oxford Asset Management acquired a new stake in shares of OFS Capital Corporation in the 1st quarter valued at approximately $370,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of OFS Capital Corporation in the 2nd quarter valued at approximately $545,000. 28.65% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on OFS. National Securities reissued a “buy” rating and set a $16.00 price objective on shares of OFS Capital Corporation in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of OFS Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Robert W. Baird downgraded shares of OFS Capital Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $13.00 in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. OFS Capital Corporation currently has an average rating of “Hold” and a consensus price target of $14.60.
OFS Capital Corporation (OFS) traded up 0.92% on Wednesday, reaching $13.16. The company’s stock had a trading volume of 13,616 shares. The stock’s 50 day moving average price is $13.10 and its 200 day moving average price is $13.92. OFS Capital Corporation has a 12 month low of $12.25 and a 12 month high of $15.24.
OFS Capital Corporation (NASDAQ:OFS) last released its earnings results on Friday, August 4th. The investment management company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. OFS Capital Corporation had a net margin of 31.02% and a return on equity of 9.43%. The business had revenue of $7.98 million during the quarter, compared to the consensus estimate of $8.53 million. Analysts forecast that OFS Capital Corporation will post $1.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.43%. OFS Capital Corporation’s dividend payout ratio (DPR) is currently 125.93%.
OFS Capital Corporation 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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