Oxford Lane Capital (NASDAQ:OXLC) Hits New 12-Month Low - Should You Sell?

Key Points

• Oxford Lane Capital shares fell to a new 52-week low, trading as low as $7.89 compared with a prior close of $8.36. The stock is below both its 50-day and 200-day moving averages.
• The company’s latest quarterly results missed analyst expectations, reporting $0.95 in EPS versus $2.26 expected and revenue of $166.25 million versus estimates of $244.27 million.
• Oxford Lane declared a monthly dividend of $0.20 per share, equal to a 30.3% annualized yield; institutional investors currently own 6.74% of the stock, with several large funds recently establishing or increasing positions.

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report) hit a new 52-week low on Saturday. The stock traded as low as $7.89 and last traded at $7.91, with a volume of 2,103,954 shares trading hands. The stock had previously closed at $8.36.

Oxford Lane Capital Stock Performance

The stock's fifty day moving average is $9.17 and its two-hundred day moving average is $9.34. The firm has a market capitalization of $775.42 million, a price-to-earnings ratio of 1.14 and a beta of 0.68.

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

Oxford Lane Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $2.40 annualized dividend and a yield of 30.3%. Oxford Lane Capital's dividend payout ratio is currently 54.76%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OXLC. Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in shares of Oxford Lane Capital during the 1st quarter valued at approximately $31,171,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Oxford Lane Capital in the 1st quarter worth about $19,560,000. Saba Capital Management L.P. acquired a new position in Oxford Lane Capital during the 1st quarter valued at about $18,114,000. Citadel Advisors LLC increased its stake in shares of Oxford Lane Capital by 48.9% in the second quarter. Citadel Advisors LLC now owns 1,703,401 shares of the investment management company's stock valued at $14,922,000 after purchasing an additional 559,421 shares during the period. Finally, Simplify Asset Management Inc. acquired a new position in shares of Oxford Lane Capital during the first quarter worth approximately $978,000. 6.74% of the stock is currently owned by institutional investors.

Oxford Lane Capital Company Profile

Oxford Lane Capital Corp. NASDAQ: OXLC is a closed-end management investment company focused on investing in collateralized loan obligations (CLOs). The company primarily seeks exposure to the equity and junior debt tranches of CLO vehicles, which are backed largely by portfolios of senior secured loans made to companies.

Through its CLO investments, Oxford Lane seeks to generate current income and, to a lesser extent, capital appreciation. Its portfolio may also include other structured finance investments and related debt instruments.

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