Oxford Lane Capital (NASDAQ:OXLC) Announces Earnings Results

Oxford Lane Capital (NASDAQ:OXLC) posted its quarterly earnings results on Tuesday. The investment management company reported $0.95 earnings per share (EPS) for the quarter, Zacks reports.

Here are the key takeaways from Oxford Lane Capital’s conference call:

• Net asset value increased to $10.74 per share from $10.56 in the prior quarter, while the company recorded a $76.3 million net increase in assets from operations.
• GAAP net investment income fell to $50.2 million, or $0.51 per share, from $54.5 million, or $0.56 per share; core net investment income also declined. CLO equity effective and cash distribution yields decreased to 11.1% and 16.3%, respectively.
• Oxford Lane completed or participated in numerous resets and refinancings, benefiting from tighter liability spreads and extending the portfolio’s weighted-average reinvestment period to November 2029. Management estimates that more than half of the portfolio has near-term reset or refinancing optionality through 2027.
• The U.S. loan market improved modestly, with loan prices rising and the reported trailing default rate falling to 0.97%, although out-of-court restructurings and other distressed activity remained elevated. Management also noted continued spread compression and said July cash distributions were a low point, with future improvement dependent on loan-market conditions and CLO refinancing activity.

Oxford Lane Capital Stock Performance

OXLC traded up $0.24 during mid-day trading on Tuesday, reaching $8.69. 702,774 shares of the stock were exchanged, compared to its average volume of 1,432,619. The stock has a market capitalization of $787.18 million, a PE ratio of 1.34 and a beta of 0.64. Oxford Lane Capital has a 1 year low of $8.01 and a 1 year high of $19.05. The company has a 50 day moving average price of $9.11 and a two-hundred day moving average price of $10.05.

Oxford Lane Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 16th. This represents a c) annualized dividend and a yield of 27.6%. Oxford Lane Capital’s dividend payout ratio (DPR) is 59.60%.

Hedge Funds Weigh In On Oxford Lane Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Oxford Lane Capital by 70.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 31,136 shares of the investment management company’s stock worth $147,000 after acquiring an additional 12,873 shares during the last quarter. NewEdge Advisors LLC increased its stake in Oxford Lane Capital by 17.9% in the 1st quarter. NewEdge Advisors LLC now owns 29,326 shares of the investment management company’s stock worth $138,000 after purchasing an additional 4,462 shares during the period. Cetera Investment Advisers lifted its position in Oxford Lane Capital by 18.3% in the second quarter. Cetera Investment Advisers now owns 132,074 shares of the investment management company’s stock valued at $555,000 after purchasing an additional 20,411 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Oxford Lane Capital in the second quarter worth approximately $69,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Oxford Lane Capital by 25.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 20,000 shares of the investment management company’s stock valued at $84,000 after buying an additional 4,000 shares during the last quarter. 6.74% of the stock is currently owned by hedge funds and other institutional investors.

About Oxford Lane Capital

Oxford Lane Capital Corp is a closed-end, externally managed investment company that seeks to generate high current income and capital appreciation. The company invests primarily in debt and equity securities of private funds managed or advised by Oxford Finance LLC, targeting U.S. middle-market companies. Its portfolio spans senior secured loans, mezzanine debt and private equity interests, providing diversification across credit instruments and industry sectors.

Established in 2009 and based in Greenwich, Connecticut, Oxford Lane Capital commenced operations in 2012.