Oxford Lane Capital (NASDAQ:OXLC) Sets New 1-Year Low - Here's What Happened

Key Points

• Oxford Lane Capital shares reached a new 52-week low of $14.49, with the last trading price at $14.92, reflecting a decline in stock value.
• The company has a market capitalization of $1.35 billion and a low price-to-earnings ratio of 3.60, indicating potential undervaluation.
• Significant movements in institutional holdings were noted, with AdvisorNet Financial Inc. increasing its stake by 92.5% in the second quarter.

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC - ) hit a new 52-week low during trading on Wednesday . The company traded as low as $14.49 and last traded at $14.92, with a volume of 1656445 shares. The stock had previously closed at $14.75.

Oxford Lane Capital Stock Performance

The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 3.60 and a beta of 0.79. The business's 50 day moving average price is $17.25 and its 200-day moving average price is $19.89.

Institutional Investors Weigh In On Oxford Lane Capital

Institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc raised its stake in shares of Oxford Lane Capital by 92.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,198 shares of the investment management company's stock valued at $26,000 after purchasing an additional 2,979 shares in the last quarter. US Bancorp DE raised its stake in shares of Oxford Lane Capital by 106.1% in the 1st quarter. US Bancorp DE now owns 6,300 shares of the investment management company's stock valued at $30,000 after purchasing an additional 3,243 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Oxford Lane Capital in the 2nd quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Oxford Lane Capital in the 2nd quarter valued at about $32,000. Finally, Quilter Plc acquired a new stake in shares of Oxford Lane Capital in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 6.74% of the company's stock.

Oxford Lane Capital Company Profile

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.