OFS Capital (NASDAQ:OFS) Releases Earnings Results, Beats Expectations By $0.01 EPS

OFS Capital (NASDAQ:OFS) released its quarterly earnings results on Friday. The investment management company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01, Morningstar.com reports. OFS Capital had a net margin of 21.25% and a return on equity of 10.84%. The business had revenue of $12.90 million for the quarter, compared to analysts’ expectations of $12.40 million.

Shares of OFS Capital stock traded up $0.21 during midday trading on Friday, hitting $11.19. The company had a trading volume of 98,846 shares, compared to its average volume of 40,698. The stock has a market capitalization of $147.37 million, a PE ratio of 8.11 and a beta of 0.65. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average price of $11.87. OFS Capital has a 12-month low of $9.53 and a 12-month high of $12.81.

Several institutional investors have recently made changes to their positions in the stock. Sigma Planning Corp raised its position in shares of OFS Capital by 5.7% in the 1st quarter. Sigma Planning Corp now owns 21,644 shares of the investment management company’s stock valued at $254,000 after purchasing an additional 1,172 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of OFS Capital by 279.1% in the 4th quarter. Macquarie Group Ltd. now owns 4,723 shares of the investment management company’s stock valued at $50,000 after purchasing an additional 3,477 shares during the last quarter. Advisor Group Inc. raised its position in shares of OFS Capital by 380.7% in the 2nd quarter. Advisor Group Inc. now owns 4,807 shares of the investment management company’s stock valued at $58,000 after purchasing an additional 3,807 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of OFS Capital by 19.7% in the 1st quarter. Wedge Capital Management L L P NC now owns 75,564 shares of the investment management company’s stock valued at $888,000 after purchasing an additional 12,427 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of OFS Capital by 6.7% in the 1st quarter. Confluence Investment Management LLC now owns 555,585 shares of the investment management company’s stock valued at $6,528,000 after purchasing an additional 35,086 shares during the last quarter. 20.57% of the stock is owned by hedge funds and other institutional investors.

OFS has been the topic of a number of recent analyst reports. National Securities restated a “buy” rating and issued a $15.00 price target on shares of OFS Capital in a report on Monday, May 6th. LADENBURG THALM/SH SH cut shares of OFS Capital from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. ValuEngine cut shares of OFS Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research lowered shares of OFS Capital from a “buy” rating to a “sell” rating in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.50.

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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Earnings History for OFS Capital (NASDAQ:OFS)

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