Zacks Investment Research Downgrades Oxford Lane Capital (OXLC) to Hold

Zacks Investment Research cut shares of Oxford Lane Capital (NASDAQ:OXLC) from a buy rating to a hold rating in a research report report published on Friday morning.

Shares of Oxford Lane Capital (NASDAQ:OXLC) opened at $10.04 on Friday. The company has a market cap of $244.10, a P/E ratio of 7.33 and a beta of 0.97. Oxford Lane Capital has a fifty-two week low of $9.11 and a fifty-two week high of $11.27.

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The business also recently announced a monthly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Wednesday, May 23rd will be issued a dividend of $0.135 per share. The ex-dividend date is Tuesday, May 22nd. This represents a $1.62 annualized dividend and a yield of 16.14%. Oxford Lane Capital’s dividend payout ratio (DPR) is currently 39.42%.

A number of hedge funds have recently made changes to their positions in OXLC. Eqis Capital Management Inc. acquired a new stake in Oxford Lane Capital during the 4th quarter worth approximately $126,000. Citadel Advisors LLC acquired a new stake in shares of Oxford Lane Capital in the third quarter valued at approximately $147,000. Belpointe Asset Management LLC acquired a new stake in shares of Oxford Lane Capital in the third quarter valued at approximately $163,000. Susquehanna International Group LLP acquired a new stake in shares of Oxford Lane Capital in the third quarter valued at approximately $166,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Oxford Lane Capital in the second quarter valued at approximately $263,000.

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About Oxford Lane Capital

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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