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Janney Montgomery Scott downgrades four BDCs based on COVID-19 recession » 08:02
04/01/20
04/01
08:02
04/01/20
08:02
BCSF

Bain Capital Specialty Finance

$9.27 /

+0.01 (+0.11%)

, MRCC

Monroe Capital

$7.01 /

+0.405 (+6.14%)

, OFS

OFS Capital

$4.05 /

-0.16 (-3.80%)

, SCM

Stellus Capital

$7.30 /

-0.09 (-1.22%)

As previously reported,…

As previously reported, Janney Montgomery Scott analyst Mitchel Penn downgraded Bain Capital Specialty Finance (BCSF), Monroe Capital (MRCC), OFS Capital (OFS) and Stellus Capital (SCM), all to Neutral from Buy, as he lowered his equity fair value for all 30 BDCs, or Business Development Companies, he covers to account for credit, liquidity, and leverage pressures based on his view that the COVID-19 pandemic will likely cause a recession. Credit losses are likely to be higher than historic levels as "some good companies are likely to be impaired," but he doesn't think BDC bonds will likely be impaired as BDCs take actions to preserve capital such as suspending equity dividends or paying dividends in stock or rights offerings, Penn tells investors.

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BCSF Bain Capital Specialty Finance
$9.27 /

+0.01 (+0.11%)

04/01/20 Janney Montgomery Scott
Bain Capital Specialty Finance downgraded to Neutral from Buy at Janney Montgomery Scott
01/27/20 Keefe Bruyette
Bain Capital downgraded to Market Perform from Outperform at Keefe Bruyette
01/15/20 Wells Fargo
Bain Capital Specialty Finance downgraded on valuation at Wells Fargo
01/15/20 Wells Fargo
Bain Capital downgraded to Underweight from Equal Weight at Wells Fargo
MRCC Monroe Capital
$7.01 /

+0.405 (+6.14%)

04/01/20 Janney Montgomery Scott
Monroe Capital downgraded to Neutral from Buy at Janney Montgomery Scott
OFS OFS Capital
$4.05 /

-0.16 (-3.80%)

04/01/20 Janney Montgomery Scott
OFS Capital downgraded at Janney Montgomery Scott
11/11/19 Ladenburg
OFS Capital downgraded to Neutral after prior price target achieved at Ladenburg
11/11/19 Ladenburg
OFS Capital downgraded to Neutral from Buy at Ladenburg
08/05/19 Ladenburg
OFS Capital upgraded to Buy from Neutral at Ladenburg
SCM Stellus Capital
$7.30 /

-0.09 (-1.22%)

04/01/20 Janney Montgomery Scott
Stellus Capital downgraded to Neutral from Buy at Janney Montgomery Scott
08/12/19
Stellus Capital downgraded to Perform at Oppenheimer
08/11/19 Oppenheimer
Stellus Capital downgraded to Perform from Outperform at Oppenheimer
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OFS Capital downgraded at Janney Montgomery Scott » 07:32
04/01/20
04/01
07:32
04/01/20
07:32
OFS

OFS Capital

$4.05 /

-0.16 (-3.80%)

Janney Montgomery Scott…

Janney Montgomery Scott analyst Mitchel Penn downgraded OFS Capital with a $6 price target.

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OFS OFS Capital
$4.05 /

-0.16 (-3.80%)

11/11/19 Ladenburg
OFS Capital downgraded to Neutral after prior price target achieved at Ladenburg
11/11/19 Ladenburg
OFS Capital downgraded to Neutral from Buy at Ladenburg
08/05/19 Ladenburg
OFS Capital upgraded to Buy from Neutral at Ladenburg
05/06/19 Ladenburg
OFS Capital downgraded to Neutral from Buy at Ladenburg
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OFS Capital downgraded to Neutral after prior price target achieved at Ladenburg » 06:54
11/11/19
11/11
06:54
11/11/19
06:54
OFS

OFS Capital

$11.92 /

+0.02 (+0.17%)

As previously reported,…

As previously reported, Ladenburg analyst Mickey Schleien downgraded OFS Capital to Neutral from Buy after the company reported Q3 net interest income per share that was in-line with expectations but also reported unrealized depreciation of 25c share due mainly to another mark-down of the Constellis second lien and that net asset value per share decreased 2%. Schleien noted that the stock has reached his previous price target of $12 and he now believes it is fairly valued.

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OFS OFS Capital
$11.92 /

+0.02 (+0.17%)

11/11/19 Ladenburg
OFS Capital downgraded to Neutral from Buy at Ladenburg
08/05/19 Ladenburg
OFS Capital upgraded to Buy from Neutral at Ladenburg
05/06/19 Ladenburg
OFS Capital downgraded to Neutral from Buy at Ladenburg
Downgrade
OFS Capital downgraded to Neutral from Buy at Ladenburg » 06:43
11/11/19
11/11
06:43
11/11/19
06:43
OFS

OFS Capital

$11.92 /

+0.02 (+0.17%)

Ladenburg analyst Mickey…

Ladenburg analyst Mickey Schleien downgraded OFS Capital to Neutral from Buy.

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OFS OFS Capital
$11.92 /

+0.02 (+0.17%)

08/05/19 Ladenburg
OFS Capital upgraded to Buy from Neutral at Ladenburg
05/06/19 Ladenburg
OFS Capital downgraded to Neutral from Buy at Ladenburg

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