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

Key Points

• Oxford Lane Capital shares fell to a new 52-week low, reaching $6.99 before closing around $7.00, down from the prior close of $7.16.
• The company’s latest quarterly results missed expectations, with EPS of $0.95 versus the $2.26 consensus estimate and revenue of $166.25 million compared with forecasts of $244.27 million.
• Several institutional investors increased their positions, but institutional ownership remains relatively limited at 6.74% of outstanding shares.

Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report) shares hit a new 52-week low during trading on Friday. The company traded as low as $6.99 and last traded at $7.00, with a volume of 1,834,911 shares changing hands. The stock had previously closed at $7.16.

Oxford Lane Capital Price Performance

The stock has a fifty day moving average of $8.99 and a 200 day moving average of $9.26. The firm has a market capitalization of $686.21 million, a P/E ratio of 1.01 and a beta of 0.68.

Oxford Lane Capital (NASDAQ:OXLC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The investment management company reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.26 by ($1.31). The business had revenue of $166.25 million during the quarter, compared to analysts' expectations of $244.27 million.

Institutional Trading of Oxford Lane Capital

Hedge funds have recently added to or reduced their stakes in the stock. Legacy Wealth Managment LLC ID grew its position in shares of Oxford Lane Capital by 20.9% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 6,010 shares of the investment management company's stock valued at $59,000 after acquiring an additional 1,040 shares during the period. Capital CS Group LLC increased its stake in shares of Oxford Lane Capital by 8.3% during the 2nd quarter. Capital CS Group LLC now owns 20,472 shares of the investment management company's stock worth $179,000 after purchasing an additional 1,572 shares during the last quarter. WPG Advisers LLC raised its holdings in shares of Oxford Lane Capital by 79.6% in the 1st quarter. WPG Advisers LLC now owns 3,914 shares of the investment management company's stock worth $38,000 after purchasing an additional 1,735 shares during the period. Susquehanna International Group LLP raised its holdings in shares of Oxford Lane Capital by 1.7% in the 2nd quarter. Susquehanna International Group LLP now owns 110,333 shares of the investment management company's stock worth $967,000 after purchasing an additional 1,833 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Oxford Lane Capital by 62.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,000 shares of the investment management company's stock worth $68,000 after purchasing an additional 2,700 shares during the period. Institutional investors own 6.74% of the company's stock.

About Oxford Lane Capital

Oxford Lane Capital Corp. NASDAQ: OXLC is a closed-end management investment company focused primarily on investments in collateralized loan obligations (CLOs). CLOs are structured credit vehicles that typically hold portfolios of senior secured corporate loans and issue multiple classes of debt and equity securities with different levels of risk and return.

The company invests mainly in CLO equity and subordinated debt tranches, as well as selected senior secured loan and other corporate credit investments.

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