Oxford Lane Capital (NASDAQ:OXLC) Shares Gap Down - Here's What Happened

Key Points

• Shares of Oxford Lane Capital (OXLC) gapped down, opening at $14.05 after a $14.55 close and last trading at $14.18 on volume of 450,781; the stock's 50‑day SMA is $15.23 and 200‑day SMA is $17.82.
• The firm posted a significant quarterly earnings miss, reporting EPS of $1.24 versus a $2.25 consensus and revenue of $128.3M compared with $247.9M expected.
• Oxford Lane announced a monthly dividend of $0.40 (record date Mar 17, pay Mar 31), which the company says implies a roughly 33.6% annualized yield.

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $14.55, but opened at $14.05. Oxford Lane Capital shares last traded at $14.18, with a volume of 450,781 shares trading hands.

Oxford Lane Capital Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of 2.24 and a beta of 0.72. The stock's fifty day simple moving average is $15.23 and its 200 day simple moving average is $17.82.

Oxford Lane Capital (NASDAQ:OXLC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The investment management company reported $1.24 EPS for the quarter, missing the consensus estimate of $2.25 by ($1.01). The company had revenue of $128.30 million for the quarter, compared to analysts' expectations of $247.87 million.

Oxford Lane Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.40 per share. This represents a c) annualized dividend and a yield of 33.6%. The ex-dividend date is Tuesday, March 17th.

Institutional Investors Weigh In On Oxford Lane Capital

A number of large investors have recently modified their holdings of the business. Wedbush Securities Inc. boosted its stake in Oxford Lane Capital by 11.1% in the 2nd quarter. Wedbush Securities Inc. now owns 1,516,297 shares of the investment management company's stock worth $6,368,000 after purchasing an additional 152,083 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Oxford Lane Capital by 41.0% during the first quarter. LPL Financial LLC now owns 1,264,958 shares of the investment management company's stock valued at $5,971,000 after buying an additional 367,613 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Oxford Lane Capital by 3.4% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 682,335 shares of the investment management company's stock worth $2,866,000 after acquiring an additional 22,365 shares during the last quarter. Jane Street Group LLC lifted its position in Oxford Lane Capital by 1,520.4% during the 2nd quarter. Jane Street Group LLC now owns 594,696 shares of the investment management company's stock worth $2,498,000 after acquiring an additional 557,996 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Oxford Lane Capital by 8.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 579,347 shares of the investment management company's stock worth $2,433,000 after acquiring an additional 43,330 shares during the period. Hedge funds and other institutional investors 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.

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