OFS Capital (NASDAQ:OFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $13.00 target price on the investment management company’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.79% from the company’s current price.
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. “
Several other equities analysts have also recently commented on the company. ValuEngine cut OFS Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. LADENBURG THALM/SH SH cut OFS Capital from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.33.
OFS Capital (NASDAQ:OFS) last announced its quarterly earnings data on Friday, November 8th. The investment management company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. OFS Capital had a return on equity of 11.47% and a net margin of 9.20%. The business had revenue of $13.86 million during the quarter, compared to analyst estimates of $13.10 million. As a group, analysts anticipate that OFS Capital will post 1.44 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. BB&T Securities LLC grew its stake in shares of OFS Capital by 9.3% in the 2nd quarter. BB&T Securities LLC now owns 443,496 shares of the investment management company’s stock worth $5,321,000 after buying an additional 37,916 shares during the last quarter. Virtus ETF Advisers LLC acquired a new position in OFS Capital during the second quarter worth about $1,843,000. Mckinley Capital Management LLC Delaware raised its position in OFS Capital by 3.8% during the second quarter. Mckinley Capital Management LLC Delaware now owns 97,155 shares of the investment management company’s stock worth $1,166,000 after acquiring an additional 3,556 shares during the last quarter. Sigma Planning Corp raised its position in OFS Capital by 7.1% during the third quarter. Sigma Planning Corp now owns 22,568 shares of the investment management company’s stock worth $262,000 after acquiring an additional 1,493 shares during the last quarter. Finally, Concorde Asset Management LLC acquired a new position in OFS Capital during the third quarter worth about $221,000. Institutional investors and hedge funds own 19.60% of the company’s stock.
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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