OFS Capital (NASDAQ:OFS) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Shares of OFS Capital Co. (NASDAQ:OFS - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.44 and traded as low as $8.25. OFS Capital shares last traded at $8.35, with a volume of 55,026 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of OFS Capital from a "buy" rating to a "hold" rating in a research note on Monday, May 5th.

OFS Capital Trading Up 0.8%

The stock has a market cap of $112.43 million, a price-to-earnings ratio of -93.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.12 and a current ratio of 0.12. The company's 50 day simple moving average is $8.59 and its two-hundred day simple moving average is $8.45.

OFS Capital (NASDAQ:OFS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.07). The company had revenue of $10.30 million during the quarter, compared to analyst estimates of $11.90 million. OFS Capital had a negative net margin of 2.29% and a positive return on equity of 11.26%. Research analysts expect that OFS Capital Co. will post 1.17 EPS for the current fiscal year.

OFS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 16.21%. The ex-dividend date is Friday, June 20th. OFS Capital's dividend payout ratio (DPR) is presently 60.44%.

Hedge Funds Weigh In On OFS Capital

A number of hedge funds have recently made changes to their positions in OFS. Connor Clark & Lunn Investment Management Ltd. increased its position in OFS Capital by 44.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,066 shares of the investment management company's stock valued at $396,000 after acquiring an additional 15,109 shares in the last quarter. Trexquant Investment LP increased its position in OFS Capital by 36.8% in the 4th quarter. Trexquant Investment LP now owns 60,704 shares of the investment management company's stock valued at $490,000 after acquiring an additional 16,327 shares in the last quarter. Virtus ETF Advisers LLC increased its position in OFS Capital by 15.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 64,344 shares of the investment management company's stock valued at $519,000 after acquiring an additional 8,784 shares in the last quarter. Bank of America Corp DE increased 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 valued at $57,000 after acquiring an additional 5,029 shares in the last quarter. Finally, Bulldog Investors LLP acquired a new stake in OFS Capital in the 4th quarter valued at about $916,000. Institutional investors and hedge funds own 10.81% 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 provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.