Oxford Lane Capital (NASDAQ:OXLC) Downgraded to Strong Sell at BidaskClub

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BidaskClub lowered shares of Oxford Lane Capital (NASDAQ:OXLC) from a sell rating to a strong sell rating in a research note published on Saturday morning, BidAskClub reports.

Separately, Zacks Investment Research raised Oxford Lane Capital from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Tuesday, August 13th.

NASDAQ:OXLC opened at $9.73 on Friday. Oxford Lane Capital has a 1-year low of $7.35 and a 1-year high of $11.05. The company’s fifty day moving average price is $10.13 and its 200-day moving average price is $10.24.

Oxford Lane Capital (NASDAQ:OXLC) last posted its earnings results on Thursday, August 1st. The investment management company reported $0.43 earnings per share (EPS) for the quarter. The business had revenue of $27.30 million for the quarter.

In related news, Director John Stuart Reardon bought 3,000 shares of the stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of $9.85 per share, for a total transaction of $29,550.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $29,550. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Several large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new position in shares of Oxford Lane Capital in the 2nd quarter valued at $34,000. Tower Research Capital LLC TRC boosted its holdings in Oxford Lane Capital by 222.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,135 shares of the investment management company’s stock worth $42,000 after buying an additional 2,852 shares in the last quarter. Capital Investment Advisory Services LLC boosted its holdings in Oxford Lane Capital by 130.3% during the second quarter. Capital Investment Advisory Services LLC now owns 5,303 shares of the investment management company’s stock worth $57,000 after buying an additional 3,000 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in Oxford Lane Capital during the second quarter valued at $75,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Oxford Lane Capital during the second quarter valued at $152,000.

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.

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