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

Key Points

• Oxford Lane Capital shares fell 3.1%, opening at $8.09 versus the prior close of $8.36 and trading below both its 50-day and 200-day moving averages.
• The company reported quarterly earnings and revenue below analyst expectations: EPS was $0.95 versus a $2.26 consensus, while revenue reached $166.25 million compared with estimates of $244.27 million.
• Oxford Lane declared a $0.20 monthly dividend, equivalent to $2.40 annually and a 29.6% yield; institutional investors and hedge funds own 6.74% of the stock.

Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report)'s share price gapped down before the market opened on Friday. The stock had previously closed at $8.36, but opened at $8.09. Oxford Lane Capital shares last traded at $8.1350, with a volume of 239,958 shares traded.

Oxford Lane Capital Trading Down 3.1%

The firm has a market cap of $793.85 million, a price-to-earnings ratio of 1.17 and a beta of 0.68. The company's 50-day moving average is $9.20 and its 200-day moving average is $9.35.

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 company had revenue of $166.25 million for the quarter, compared to analyst estimates of $244.27 million.

Oxford Lane Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 17th. This represents a $2.40 annualized dividend and a dividend yield of 29.6%. Oxford Lane Capital's dividend payout ratio (DPR) is presently 54.76%.

Hedge Funds Weigh In On Oxford Lane Capital

A number of institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in shares of Oxford Lane Capital by 268.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 83,655 shares of the investment management company's stock worth $733,000 after buying an additional 60,965 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Oxford Lane Capital in the second quarter valued at about $35,000. Citadel Advisors LLC grew its position in 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 acquiring an additional 559,421 shares during the last quarter. Advisory Solutions Group LLC acquired a new position in Oxford Lane Capital during the second quarter worth about $551,000. Finally, NWF Advisory Services Inc. acquired a new position in Oxford Lane Capital during the second quarter worth about $89,000. Institutional investors and hedge funds own 6.74% of the company's stock.

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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