Does This Provide a Reason to Buy OFS Capital Corporation (OFS)? The Stock Has Formed Bullish Wedge Up Chart Pattern

September 16, 2018 - By Mona Holcomb

Investors sentiment decreased to 0.62 in 2018 Q2. 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.
Susquehanna Intl Grp Ltd Liability Partnership holds 0% or 19,251 shares. Lsv Asset Mgmt owns 21,400 shares. Axa invested 0% of its portfolio in OFS Capital Corporation (NASDAQ:OFS). Moreover, Advisors Asset Management has 0.07% invested in OFS Capital Corporation (NASDAQ:OFS). Minnesota-based Punch Assoc Inv Mngmt has invested 0.15% in OFS Capital Corporation (NASDAQ:OFS). Stifel Fincl Corp reported 16,159 shares. Yakira Mgmt has 0.07% invested in OFS Capital Corporation (NASDAQ:OFS). Ares Mngmt Limited Liability Co has invested 0.04% in OFS Capital Corporation (NASDAQ:OFS). Jpmorgan Chase Company has invested 0% in OFS Capital Corporation (NASDAQ:OFS). Confluence Inv Mngmt Ltd Company owns 440,200 shares or 0.09% of their US portfolio. California Pub Employees Retirement Sys reported 0% in OFS Capital Corporation (NASDAQ:OFS). Janney Montgomery Scott Ltd Liability Company accumulated 102,070 shares or 0.01% of the stock. The New York-based Tower Research Ltd Liability Company (Trc) has invested 0% in OFS Capital Corporation (NASDAQ:OFS). Wells Fargo & Mn owns 16,636 shares. Manufacturers Life Company The invested in 666 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 $4.54M 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.

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