Analysts Set $10.00 Target Price for Oxford Lane Capital Corp (NASDAQ:OXLC)

Oxford Lane Capital Corp (NASDAQ:OXLC) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus target price of $10.00 for the company, according to Zacks. Zacks has also given Oxford Lane Capital an industry rank of 49 out of 255 based on the ratings given to its competitors.

A number of research firms recently commented on OXLC. BidaskClub upgraded Oxford Lane Capital from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research upgraded Oxford Lane Capital from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, August 13th.

In related news, Director John Stuart Reardon acquired 3,000 shares of Oxford Lane Capital stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $9.85 per share, with a total value 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 approximately $29,550. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently modified their holdings of OXLC. Virtus ETF Advisers LLC bought a new stake in Oxford Lane Capital during the second quarter worth approximately $6,667,000. Morgan Stanley increased its stake in Oxford Lane Capital by 64.5% during the second quarter. Morgan Stanley now owns 288,603 shares of the investment management company’s stock worth $2,909,000 after acquiring an additional 113,165 shares during the last quarter. Wiley BROS. Aintree Capital LLC increased its stake in Oxford Lane Capital by 93.8% during the third quarter. Wiley BROS. Aintree Capital LLC now owns 197,178 shares of the investment management company’s stock worth $2,089,000 after acquiring an additional 95,412 shares during the last quarter. Citadel Advisors LLC bought a new stake in Oxford Lane Capital during the second quarter worth approximately $411,000. Finally, Wedbush Securities Inc. bought a new stake in Oxford Lane Capital during the second quarter worth approximately $217,000.

Shares of NASDAQ:OXLC traded up $0.10 during mid-day trading on Friday, reaching $9.37. The stock had a trading volume of 358,658 shares, compared to its average volume of 551,229. Oxford Lane Capital has a 1 year low of $7.35 and a 1 year high of $11.05. The business’s 50 day moving average price is $9.74 and its 200 day moving average price is $10.20.

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