Oxford Lane Capital (NASDAQ:OXLC) Raised 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 released on Wednesday, Zacks.com reports.

Separately, BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd.

Shares of NASDAQ OXLC 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 company has a 50 day moving average price of $10.22.

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

Several large investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC increased its holdings in shares of Oxford Lane Capital by 4.8% in the fourth quarter. Cetera Advisor Networks LLC now owns 123,055 shares of the investment management company’s stock valued at $1,191,000 after purchasing an additional 5,669 shares during the period. LPL Financial LLC increased its holdings in shares of Oxford Lane Capital by 36.3% in the fourth quarter. LPL Financial LLC now owns 56,670 shares of the investment management company’s stock valued at $550,000 after purchasing an additional 15,100 shares during the period. National Asset Management Inc. acquired a new position in shares of Oxford Lane Capital in the first quarter valued at approximately $157,000. Commonwealth Equity Services LLC increased its holdings in shares of Oxford Lane Capital by 46.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 54,971 shares of the investment management company’s stock valued at $533,000 after purchasing an additional 17,487 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Oxford Lane Capital by 11.0% in the third quarter. Morgan Stanley now owns 185,537 shares of the investment management company’s stock valued at $1,966,000 after purchasing an additional 18,388 shares during the period.

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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