Oxford Lane Capital (NASDAQ:OXLC) Reaches New 52-Week Low After Earnings Miss

Oxford Lane Capital Corp. (NASDAQ:OXLC) reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $5.66 and last traded at $5.3890, with a volume of 242,292 shares. The stock had previously closed at $6.52.

The investment management company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.13).

Hedge Funds Weigh In On Oxford Lane Capital

Several institutional investors and hedge funds have recently modified their holdings of OXLC. Kohlberg Kravis Roberts & Co. L.P. purchased a new position in shares of Oxford Lane Capital in the 1st quarter valued at about $31,171,000. Polar Asset Management Partners Inc. grew its position in 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 acquiring an additional 350,000 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in shares of Oxford Lane Capital in the first quarter worth about $18,114,000. Citadel Advisors LLC lifted its position in shares of 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 worth $14,922,000 after purchasing an additional 559,421 shares in the last quarter. Finally, Susquehanna International Group LLP increased its stake in shares of Oxford Lane Capital by 1.7% in the 2nd quarter. Susquehanna International Group LLP now owns 110,333 shares of the investment management company’s stock valued at $967,000 after buying an additional 1,833 shares during the period. Hedge funds and other institutional investors own 6.74% of the company’s stock.

Oxford Lane Capital Stock Down 26.5%

The firm has a fifty day moving average of $8.48 and a 200-day moving average of $9.41. The firm has a market cap of $469.56 million, a P/E ratio of 0.72 and a beta of 0.68.

About Oxford Lane Capital

Oxford Lane Capital Corp. (NASDAQ: OXLC) is a closed-end management investment company focused primarily on investments in collateralized loan obligations (CLOs). CLOs are structured credit vehicles that typically hold portfolios of senior secured corporate loans and issue multiple classes of debt and equity securities with different levels of risk and return.

The company invests mainly in CLO equity and subordinated debt tranches, as well as selected senior secured loan and other corporate credit investments.