Oxford Lane Capital (NASDAQ:OXLC) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Oxford Lane Capital (NASDAQ:OXLC) from a strong sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

Separately, BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd.

OXLC stock opened at $10.63 on Wednesday. Oxford Lane Capital has a twelve month low of $7.35 and a twelve month high of $11.50. The firm’s 50-day moving average is $10.22.



The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a dividend yield of 15.24%. The ex-dividend date of this dividend is Thursday, August 22nd.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisor Networks LLC grew its holdings in shares of Oxford Lane Capital by 4.8% during the fourth quarter. Cetera Advisor Networks LLC now owns 123,055 shares of the investment management company’s stock worth $1,191,000 after purchasing an additional 5,669 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Oxford Lane Capital by 36.3% during the fourth quarter. LPL Financial LLC now owns 56,670 shares of the investment management company’s stock worth $550,000 after purchasing an additional 15,100 shares in the last quarter. National Asset Management Inc. purchased a new position in shares of Oxford Lane Capital during the first quarter worth about $157,000. Commonwealth Equity Services LLC lifted its position in Oxford Lane Capital by 46.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 54,971 shares of the investment management company’s stock worth $533,000 after buying an additional 17,487 shares during the last quarter. Finally, Morgan Stanley lifted its position in Oxford Lane Capital by 11.0% in the 3rd quarter. Morgan Stanley now owns 185,537 shares of the investment management company’s stock worth $1,966,000 after buying an additional 18,388 shares during the last quarter.

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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