OFS Capital (NASDAQ:OFS) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

OFS Capital (NASDAQ:OFS) released its quarterly earnings results on Monday. The investment management company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03), Zacks reports. The company had revenue of ($17.96) million for the quarter, compared to analyst estimates of $10.50 million. OFS Capital had a return on equity of 8.95% and a net margin of 7.52%.

OFS Capital Price Performance

Shares of NASDAQ OFS opened at $4.20 on Tuesday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.43. OFS Capital has a 1-year low of $3.98 and a 1-year high of $9.80. The business’s fifty day moving average price is $4.60 and its two-hundred day moving average price is $6.01.

Analyst Ratings Changes

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

Institutional Trading of OFS Capital

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in OFS Capital by 245.3% in the 4th quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock worth $57,000 after purchasing an additional 5,029 shares during the last quarter. Royal Bank of Canada grew its holdings in OFS Capital by 53.3% in the 4th 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 in the last quarter. Jane Street Group LLC acquired a new stake in OFS Capital in the 4th quarter valued at approximately $66,000. Squarepoint Ops LLC bought a new stake in OFS Capital during the 4th quarter valued at $202,000. Finally, Marshall Wace LLP acquired a new position in OFS Capital during the 4th quarter worth $377,000. 10.81% of the stock is currently owned by institutional investors.

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.