Is Major Move Coming For OFS Capital Corporation (OFS) After This Bullish Wedge Up Pattern?

September 16, 2018 - By Sonya McDaniel

Investors sentiment decreased to 0.62 in Q2 2018. Its down 0.38, from 1 in 2018Q1. It dropped, as 3 investors sold OFS Capital Corporation shares while 10 reduced holdings. 5 funds opened positions while 3 raised stakes. 2.04 million shares or 23.33% less from 2.66 million shares in 2018Q1 were reported.
16,159 were reported by Stifel Financial Corporation. Shikiar Asset Mngmt accumulated 10,250 shares. Asset Inc, a Colorado-based fund reported 9,277 shares. Susquehanna Intll Group Ltd Liability Partnership stated it has 19,251 shares. Mckinley Mgmt Limited Liability Corp Delaware has 98,522 shares. Minnesota-based Us National Bank & Trust De has invested 0% in OFS Capital Corporation (NASDAQ:OFS). Freestone Ltd Llc reported 233,542 shares or 0.02% of all its holdings. Punch And Invest accumulated 163,155 shares. Jpmorgan Chase And Company, New York-based fund reported 165,402 shares. Macquarie Group Incorporated Ltd reported 1,709 shares or 0% of all its holdings. 166,524 are owned by Morgan Stanley. 3,500 were accumulated by Bancorp Of America De. Manufacturers Life Insurance Co The holds 666 shares. Tower Rech Cap Ltd Limited Liability Company (Trc) reported 0% stake. Yakira owns 0.07% invested in OFS Capital Corporation (NASDAQ:OFS) for 25,172 shares.

The stock of OFS Capital Corporation (OFS) formed an up wedge with $13.26 target or 7.00 % above today’s $12.39 share price. The 7 months wedge indicates low risk for the $165.41 million company. If the $13.26 price target is reached, the company will be worth $11.58 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.82% or $0.23 during the last trading session, reaching $12.39. About 44,845 shares traded or 2.04% up from the average. OFS Capital Corporation (NASDAQ:OFS) has declined 2.41% since September 16, 2017 and is downtrending. It has underperformed by 18.03% the S&P500.

Analysts await OFS Capital Corporation (NASDAQ:OFS) to report earnings on November, 2. They expect $0.34 EPS, up 3.03 % or $0.01 from last year’s $0.33 per share. OFS’s profit will be $4.54 million for 9.11 P/E if the $0.34 EPS becomes a reality. After $0.34 actual EPS reported by OFS Capital Corporation for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

OFS Capital Corporation is a business development firm specializing in direct and fund investments as well as add-on acquisitions. The company has market cap of $165.41 million. It does not invest in operational turnarounds or start-up businesses. It has a 25.23 P/E ratio. 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.