Oxford Lane Capital (NASDAQ:OXLC) Shares Down 4.6% – Time to Sell?

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s share price traded down 4.6% during trading on Monday. The company 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 Performance

The stock has a market cap of $714.64 million, a PE ratio of 1.05 and a beta of 0.68. The firm’s 50-day moving average is $9.10 and its 200 day moving average is $9.30.

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

Oxford Lane Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, December 17th. This represents a $2.40 annualized dividend and a dividend yield of 32.9%. Oxford Lane Capital’s dividend payout ratio is 54.76%.

Hedge Funds Weigh In On Oxford Lane Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in shares of Oxford Lane Capital during the first quarter worth approximately $31,171,000. Polar Asset Management Partners Inc. purchased a new position in Oxford Lane Capital in the 1st quarter valued at $19,560,000. Saba Capital Management L.P. acquired a new position in Oxford Lane Capital in the 1st quarter valued at $18,114,000. Citadel Advisors LLC increased its stake in Oxford Lane Capital by 48.9% in 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 buying an additional 559,421 shares during the period. Finally, Simplify Asset Management Inc. acquired a new position in Oxford Lane Capital in the 1st quarter valued at $978,000. Hedge funds and other 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 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.