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

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s share price reached a new 52-week low during trading on Saturday. The stock traded as low as $7.89 and last traded at $7.91, with a volume of 2,103,954 shares changing hands. The stock had previously closed at $8.36.

Oxford Lane Capital Stock Down 5.4%

The firm has a market cap of $775.42 million, a price-to-earnings ratio of 1.14 and a beta of 0.68. The stock’s 50 day moving average is $9.17 and its 200 day moving average is $9.34.

Oxford Lane Capital (NASDAQ:OXLC) last released its earnings results on Tuesday, July 28th. The investment management company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($1.31). The company had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $244.27 million.

Oxford Lane Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 30.3%. Oxford Lane Capital’s dividend payout ratio (DPR) is 54.76%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kohlberg Kravis Roberts & Co. L.P. bought a new stake in shares of Oxford Lane Capital during the 1st quarter worth $31,171,000. Polar Asset Management Partners Inc. boosted its holdings in shares of Oxford Lane Capital by 17.5% in 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 period. Saba Capital Management L.P. purchased a new position in Oxford Lane Capital during the 1st quarter worth approximately $18,114,000. Citadel Advisors LLC raised its position in 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 valued at $14,922,000 after buying an additional 559,421 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Oxford Lane Capital by 6.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 162,907 shares of the investment management company’s stock worth $1,593,000 after purchasing an additional 9,525 shares during the period. 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.