Oxford Lane Capital (NASDAQ:OXLC) Shares Gap Down – Here’s What Happened

Oxford Lane Capital Corp. (NASDAQ:OXLC) shares gapped down prior to trading 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 changing hands.

Oxford Lane Capital Stock Performance

The firm’s fifty day moving average is $9.20 and its 200-day moving average is $9.35. The company has a market capitalization of $793.85 million, a P/E ratio of 1.17 and a beta of 0.68.

Oxford Lane Capital (NASDAQ:OXLC) last issued 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 for the quarter, compared to analyst estimates of $244.27 million.

Oxford Lane Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, December 17th. This represents a $2.40 dividend on an annualized basis and a yield of 29.6%. Oxford Lane Capital’s payout ratio is currently 54.76%.

Hedge Funds Weigh In On Oxford Lane Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Wealth Managment LLC ID boosted its stake in 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 purchasing an additional 1,040 shares during the last quarter. Capital CS Group LLC raised its stake in shares of Oxford Lane Capital by 8.3% in the second 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 stake in shares of Oxford Lane Capital by 79.6% in the first 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 last quarter. Susquehanna International Group LLP raised its stake in shares of Oxford Lane Capital by 1.7% in the second 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 last quarter. Finally, Osbon Capital Management LLC bought a new position in shares of Oxford Lane Capital in the fourth quarter valued at approximately $29,000. 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.