Zacks Investment Research upgraded shares of Oxford Lane Capital (NASDAQ:OXLC) from a strong sell rating to a hold rating in a research note published on Tuesday morning.
Separately, Ladenburg Thalmann Financial Services reaffirmed a buy rating and issued a $11.00 target price (up previously from $10.25) on shares of Oxford Lane Capital in a research note on Thursday, October 5th.
Shares of Oxford Lane Capital (NASDAQ:OXLC) traded down $0.13 during trading hours on Tuesday, reaching $10.19. 282,027 shares of the company’s stock were exchanged, compared to its average volume of 355,773. Oxford Lane Capital has a 12-month low of $9.11 and a 12-month high of $11.65. The company has a market cap of $245.79, a price-to-earnings ratio of 7.44 and a beta of 1.01.
The firm also recently announced a monthly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 22nd will be paid a $0.135 dividend. This represents a $1.62 annualized dividend and a dividend yield of 15.90%. The ex-dividend date of this dividend is Wednesday, March 21st. Oxford Lane Capital’s dividend payout ratio (DPR) is presently 116.79%.
Several hedge funds and other institutional investors have recently modified their holdings of OXLC. Advisor Group Inc. boosted its stake in shares of Oxford Lane Capital by 83.5% in the 2nd quarter. Advisor Group Inc. now owns 131,168 shares of the investment management company’s stock valued at $1,300,000 after purchasing an additional 59,695 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Oxford Lane Capital by 258.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 41,437 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 29,863 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Oxford Lane Capital in the 2nd quarter valued at about $263,000. Nine Chapters Capital Management LLC bought a new position in shares of Oxford Lane Capital in the 3rd quarter valued at about $241,000. Finally, Susquehanna International Group LLP bought a new position in shares of Oxford Lane Capital in the 3rd quarter valued at about $166,000.
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Oxford Lane Capital Company Profile
Oxford Lane Capital Corp. is a non-diversified closed-end management investment company. The Fund’s investment objective is to maximize its portfolio’s risk adjusted total return and seeks to achieve its investment objective by investing in structured finance investments, specifically collateralized loan obligation (CLO) vehicles, which primarily own senior corporate debt securities.
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