Oxford Lane Capital (NASDAQ:OXLC) Trading Down 5.4% – Time to Sell?

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s stock price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $4.45 and last traded at $4.44. 3,053,073 shares were traded during trading, a decline of 39% from the average session volume of 4,977,602 shares. The stock had previously closed at $4.69.

Oxford Lane Capital Price Performance

The company has a 50-day moving average price of $4.83 and a 200 day moving average price of $5.07. The firm has a market capitalization of $1.53 billion, a PE ratio of 5.34 and a beta of 0.84.

Oxford Lane Capital (NASDAQ:OXLC) last announced its quarterly earnings results on Monday, January 27th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.39).

Oxford Lane Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a yield of 24.38%. The ex-dividend date is Tuesday, September 16th. Oxford Lane Capital’s payout ratio is 127.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of Oxford Lane Capital during the fourth quarter worth approximately $1,079,000. Wedbush Securities Inc. grew its stake in Oxford Lane Capital by 10.0% in the fourth quarter. Wedbush Securities Inc. now owns 1,191,828 shares of the investment management company’s stock worth $6,043,000 after purchasing an additional 107,951 shares in the last quarter. Border to Coast Pensions Partnership Ltd raised its position in Oxford Lane Capital by 31.7% during the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 1,850,000 shares of the investment management company’s stock valued at $9,373,000 after purchasing an additional 445,000 shares in the last quarter. Realta Investment Advisors raised its position in Oxford Lane Capital by 15.9% during the 4th quarter. Realta Investment Advisors now owns 1,030,232 shares of the investment management company’s stock valued at $5,254,000 after purchasing an additional 141,536 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Oxford Lane Capital in the 4th quarter worth $290,000. Institutional investors own 6.74% of the company’s stock.

Oxford Lane Capital Company Profile

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.