Oxford Lane Capital (NASDAQ:OXLC) Hits New 12-Month Low – Time to Sell?

Oxford Lane Capital Corp. (NASDAQ:OXLC) shares reached a new 52-week low during trading on Thursday. The stock traded as low as $6.49 and last traded at $6.4950, with a volume of 118,776 shares changing hands. The stock had previously closed at $6.58.

Oxford Lane Capital Stock Down 2.6%

The firm has a market cap of $630.33 million, a price-to-earnings ratio of 0.93 and a beta of 0.68. The business’s fifty day moving average is $8.66 and its two-hundred day moving average is $9.53.

Oxford Lane Capital (NASDAQ:OXLC) last posted its quarterly earnings data on Tuesday, July 28th. The investment management company reported $0.95 earnings per share 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 analysts’ expectations of $244.27 million.

Institutional Investors Weigh In On Oxford Lane Capital

Several hedge funds and other institutional investors have recently made changes to their positions in OXLC. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of Oxford Lane Capital in the 1st quarter valued at about $31,171,000. Polar Asset Management Partners Inc. raised its stake in shares of Oxford Lane Capital by 17.5% during the second quarter. Polar Asset Management Partners Inc. now owns 2,350,000 shares of the investment management company’s stock worth $20,586,000 after buying an additional 350,000 shares during the last quarter. Saba Capital Management L.P. bought a new stake in shares of Oxford Lane Capital during the first quarter worth approximately $18,114,000. Citadel Advisors LLC raised its stake in shares of Oxford Lane Capital by 48.9% during the second quarter. Citadel Advisors LLC now owns 1,703,401 shares of the investment management company’s stock worth $14,922,000 after buying an additional 559,421 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its holdings in 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 valued at $967,000 after buying an additional 1,833 shares during the period. 6.74% of the stock is owned by institutional investors and hedge funds.

Oxford Lane Capital Company Profile

Oxford Lane Capital Corp. (NASDAQ: OXLC) is a closed-end management investment company focused primarily on investments in collateralized loan obligations (CLOs). CLOs are structured credit vehicles that typically hold portfolios of senior secured corporate loans and issue multiple classes of debt and equity securities with different levels of risk and return.

The company invests mainly in CLO equity and subordinated debt tranches, as well as selected senior secured loan and other corporate credit investments.