OFS Capital Corp. (OFS) Upgraded to Buy at Zacks Investment Research
OFS Capital Corp. (NASDAQ:OFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $15.00 target price on the investment management company’s stock. Zacks Investment Research’s price target points to a potential upside of 10.62% from the stock’s previous close.
According to Zacks, “OFS Capital Corporation is a closed-end, non-diversified management investment company. It is engaged in providing capital to North American middle market companies. Its investment objective is to provide its stockholders with both current income and capital appreciation primarily through debt investments and equity investments in asset classes including senior secured, unitranche, second-lien and mezzanine loans. “
Separately, National Securities reissued a “buy” rating and set a $15.00 price target on shares of OFS Capital Corp. in a research report on Monday, August 8th.
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OFS Capital Corp. (NASDAQ:OFS) last posted its quarterly earnings results on Friday, August 5th. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. OFS Capital Corp. had a return on equity of 10.67% and a net margin of 44.30%.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.03%. The ex-dividend date was Wednesday, September 14th. OFS Capital Corp.’s payout ratio is currently 91.89%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Orinda Asset Management LLC purchased a new position in shares of OFS Capital Corp. during the second quarter valued at $103,000. Acrospire Investment Management LLC purchased a new position in shares of OFS Capital Corp. during the first quarter valued at $109,000. DIAM Co. Ltd. purchased a new position in shares of OFS Capital Corp. during the second quarter valued at $128,000. GSA Capital Partners LLP purchased a new position in shares of OFS Capital Corp. during the second quarter valued at $222,000. Finally, Mckinley Capital Management LLC Delaware raised its position in shares of OFS Capital Corp. by 15.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 29,560 shares of the investment management company’s stock valued at $380,000 after buying an additional 3,957 shares during the last quarter. 22.11% of the stock is currently owned by institutional investors.
OFS Capital Corp. 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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