Oxford Lane Capital (NASDAQ:OXLC) Reaches New 1-Year Low Following Weak Earnings

Oxford Lane Capital Corp. (NASDAQ:OXLC) shares hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.66 and last traded at $5.3890, with a volume of 242,292 shares trading hands. The stock had previously closed at $6.52.

The investment management company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.13).

Institutional Trading of Oxford Lane Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Kohlberg Kravis Roberts & Co. L.P. bought a new position in Oxford Lane Capital in the 1st quarter worth approximately $31,171,000. Polar Asset Management Partners Inc. lifted its holdings in 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 acquiring an additional 350,000 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in Oxford Lane Capital during the 1st quarter worth approximately $18,114,000. Citadel Advisors LLC boosted its position 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 worth $14,922,000 after acquiring an additional 559,421 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its stake in shares of Oxford Lane Capital by 1.7% during the second quarter. Susquehanna International Group LLP now owns 110,333 shares of the investment management company’s stock valued at $967,000 after purchasing an additional 1,833 shares in the last quarter. Institutional investors own 6.74% of the company’s stock.

Oxford Lane Capital Stock Performance

The stock has a market cap of $469.56 million, a P/E ratio of 0.72 and a beta of 0.68. The company’s 50 day moving average price is $8.48 and its 200-day moving average price is $9.41.

About Oxford Lane Capital

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.