Short-term stake in OFS Capital Co. (NASDAQ:OFS) drops 48.0%

OFS Capital Co. (NASDAQ:OFS – Get Rating) saw a significant decline in short interest in June. As of June 30, there was selling interest totaling 19,400 shares, down 48.0% from the June 15 total of 37,300 shares. Based on an average daily volume of 73,000 shares, the short interest rate is currently 0.3 days. About 0.2% of the stock’s shares are sold short.

OFS Capital Trading up 2.7%

Shares of OFS were up $0.27 during Friday trading hours, hitting $10.23. The stock recorded trading volume of 35,609 shares, compared to an average trading volume of 67,345 shares. The company has a market capitalization of $137.39 million, a P/E ratio of 2.25 and a beta of 1.79. OFS Capital has a 12-month low of $8.77 and a 12-month high of $13.47. The company has a debt ratio of 0.86, a quick ratio of 0.07 and a current ratio of 0.07. The company’s fifty-day simple moving average is $11.48 and its 200-day simple moving average is $11.32.

OFS Capital (NASDAQ:OFS – Get Rating) last released its quarterly results on Friday, May 6. The investment management firm reported earnings per share of $0.22 for the quarter, missing analyst consensus estimates of $0.28 per ($0.06). OFS Capital posted a net margin of 126.61% and a return on equity of 7.32%. The company posted revenue of $10.95 million for the quarter, versus analyst estimates of $11.96 million. In the same period a year earlier, the company had earned earnings per share of $0.19. Equity research analysts expect OFS Capital to post EPS of 1.17 for the current fiscal year.

OFS capital increase dividend

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Thursday, June 23 received a dividend of $0.29. This represents an annualized dividend of $1.16 and a yield of 11.34%. The ex-dividend date was Wednesday, June 22. This is a boost from OFS Capital’s previous quarterly dividend of $0.28. OFS Capital’s payout ratio is 25.55%.

Changes to analyst ratings

Separately, downgraded shares of OFS Capital from a “buy” rating to a “hold” rating in a Tuesday, May 10 report.

Institutional investors weigh in on OFS Capital

Hedge funds and other institutional investors have recently changed their positions in the company. Advisor Group Holdings Inc. increased its position in OFS Capital shares by 122.4% during the first quarter. Advisor Group Holdings Inc. now owns 8,405 shares of the investment management company worth $110,000 after purchasing an additional 4,625 shares during the period. Ritholtz Wealth Management increased its stake in OFS Capital by 20.2% in the 1st quarter. Ritholtz Wealth Management now owns 16,913 shares of the investment management company worth $220,000 after acquiring 2,843 additional shares during the period. Janney Montgomery Scott LLC increased its stake in OFS Capital by 10.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,123 shares of the investment management company worth $317,000 after acquiring 2,787 additional shares during the period. Hillsdale Investment Management Inc. acquired a new stake in OFS Capital during Q1 valued at $411,000. Finally, Mariner Investment Group LLC acquired a new stake in OFS Capital during the 4th quarter at a value of $355,000. 11.24% of the shares are held by institutional investors and hedge funds.

About OFS Capital

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OFS Capital Corporation is a business development firm specializing in direct and fund investments as well as follow-on acquisitions. It provides flexible capital solutions primarily through debt capital and, to a lesser extent, minority equity investments serving the needs of US-based middle market companies across a wide range of industries.

Further reading

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