Oxford Lane Capital (NASDAQ:OXLC) Stock Falls 4.6% - Should You Sell?

Key Points

• Oxford Lane Capital shares fell 4.6% to $7.5450, below both their 50-day ($9.17) and 200-day ($9.34) moving averages, on trading volume roughly in line with average levels.
• The company’s latest quarterly results missed expectations, reporting $0.95 in EPS versus the $2.26 consensus estimate and revenue of $166.25 million versus $244.27 million expected.
• Oxford Lane declared a monthly dividend of $0.20 per share, equivalent to $2.40 annually and a 31.8% yield; institutional investors own 6.74% of the stock.

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report) traded down 4.6% on Monday. The stock traded as low as $7.58 and last traded at $7.5450. Approximately 1,314,454 shares traded hands during mid-day trading, an increase of 0% from the average session volume of 1,311,645 shares. The stock had previously closed at $7.91.

Oxford Lane Capital Stock Down 4.6%

The stock has a market capitalization of $739.64 million, a P/E ratio of 1.09 and a beta of 0.68. The business has a fifty day moving average price of $9.17 and a 200-day moving average price of $9.34.

Oxford Lane Capital (NASDAQ:OXLC - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The investment management company reported $0.95 EPS for the quarter, missing the consensus estimate of $2.26 by ($1.31). The company had revenue of $166.25 million during the quarter, compared to the consensus estimate 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. Stockholders of record on Thursday, December 17th will be issued a dividend of $0.20 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 31.8%. The ex-dividend date of this dividend is Thursday, December 17th. Oxford Lane Capital's dividend payout ratio (DPR) is presently 54.76%.

Institutional Trading of Oxford Lane Capital

Large investors have recently made changes to their positions in the stock. Kohlberg Kravis Roberts & Co. L.P. bought a new position in Oxford Lane Capital in the first quarter valued at about $31,171,000. Polar Asset Management Partners Inc. bought a new stake in shares of Oxford Lane Capital during the 1st quarter valued at about $19,560,000. Saba Capital Management L.P. bought a new stake in shares of Oxford Lane Capital during the 1st quarter valued at about $18,114,000. Citadel Advisors LLC grew its stake in shares of Oxford Lane Capital by 48.9% during the 2nd 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. bought a new stake in shares of Oxford Lane Capital during the 1st quarter valued at about $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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