Oxford Lane CapitalNASDAQ
Wed, Nov. 16, 8:07 AM
Wed, Aug. 10, 10:53 AM
- Q2 core net investment income of $19.5M or $1.04 per share vs. $13M and $0.71 in Q1. Dividend is $0.60.
- Net asset value per share of $8.78 up from $7.04 three months earlier. Current price is $10.55.
- Net increase in net assets from operations of $44M or $2.34 per share vs. a decrease of $9.4M and $0.52 in Q1.
- Previously: Oxford Lane Capital reports Q2 results (Aug. 10)
- OXLC +8.25%
Wed, Aug. 10, 8:07 AM
Wed, Aug. 10, 8:04 AM
Thu, May 26, 9:57 AM
- Oxford Lane Capital (OXLC -3.3%) has been under pressure since announcing another sizable drop in NAV last week - to $7.04 per share as of March 31 vs. $8.13 three months earlier. The current price of $9.10 is 1.3x NAV.
- Maxim Group downgrades to Sell from Hold.
Thu, May 19, 8:10 AM
- Oxford Lane Capital (NASDAQ:OXLC): FQ4 Core NII of $0.71.
Thu, Apr. 14, 2:55 PM
- "Our fundamental outlook for leveraged credit remains constructive," says Global CIO Scott Minerd, noting spreads of more than 900 basis points in February are consistent with six-month default rates in the 9-10% range - an overestimation in his view.
- Though spreads have narrowed since, Guggenheim is still finding bargains in both high-yield (HYG, JNK) and bank loans, and Minerd reminds bank loan borrowers in particular could benefit from the Fed's caution on rate hikes (bank loans tend to be floating rate).
- Guggenheim's Floating Rate Strategies Fund (MUTF:GIFAX) is near the top of bank loan funds, with an average annual return of 2.84% over the last three years.
- Bank loan ETFs: OXLC, BKLN, PPR, EFR, VVR, ECC, BGB, PHD, SRLN, NSL, BGX, FCT, BSL, AFT, EVF, SNLN, TSLF, FTSL, TLI, BHL
Wed, Mar. 2, 8:23 AM
- The average bid of LCD News' flow-name loan composite has surged 82 basis points over the few sessions to 96.49% of par. Of the 15 names in the sample, 13 advanced, none declined, and two were unchanged.
- By far the biggest mover was Scientific Games B-2 term loan due in 2021, which was a bid a full five points higher after better-than-expected Q4 results.
- ETFs: OXLC, BKLN, PPR, EFR, VVR, PHD, SRLN, BGB, NSL, ECC, BGX, FCT, SNLN, EVF, AFT, BSL, TSLF, FTSL, TLI, BHL
Thu, Feb. 4, 10:13 AM
- Q4 estimated distributable net investment income of $17.3M or $0.96 per share vs. $13.2M and $0.74 in Q3. Dividend is $0.60.
- Net asset value per share falls to $8.13 from $11.33. Current price is $8.65. Total assets of $315.9M falls from $382.2M.
- Presentation slides
- Conference call at 10 ET (dial-in)
- OXLC -7.1%.
- Previously: Oxford Lane Capital reports Q4 results (Feb. 4)
Thu, Feb. 4, 8:49 AM
- Oxford Lane Capital (NASDAQ:OXLC): FQ3 NII of $0.46.
Dec. 18, 2015, 8:27 AM
- $13.1B of money exited bond funds in the week ended Wednesday, according to BAML in a report titled "Bond Carnage," the largest weekly outflow since June of 2013.
- Unsurprisingly, bank loan funds and high-yield funds (two sides of the same coin) were stung hardest (based on percentage of AUM). Emerging market debt was right behind, while investment-grade and Treasury funds saw relatively small outflows.
- Bank loan ETFs: BKLN, OXLC, PPR, EFR, VVR, PHD, SRLN, NSL, BGB, BGX, FCT, SNLN, EVF, ECC, AFT, BSL, TSLF, FTSL, TLI, BHL
- Broad fixed-income ETFs: AGG, BND, BOND, PTY, RCS, DBL, BTZ, HTR, PCM, SCHZ, JHI, BHK, TAI, JMM, BNDS, ICB, VBF, FBND, PAI, SAGG, GBF, IUSB, VBND, UBND
Dec. 14, 2015, 11:20 AM
- The price of oil has stabilized, but the major averages are moving lower, Treasury yields are moving higher in front of this week's expected Fed rate hike, and high-yield continues to sell off (with more funds gating withdrawals/selling holdings).
- It all adds up to continued panicky liquidation in the business development complex. Prospect Capital (PSEC -4.8%), Fifth Street Finance (FSC -4.1%), Ares Capital (ARCC -4.9%), FS Investment (FSIC -3.4%), Triangle Capital (TCAP -4.8%), TICC Capital (TICC -9.1%), PennantPark Investment (PNNT -4.3%), New Mountain Finance (NMFC -5.8%), Monroe Capital (MRCC -4.5%), Oxford Lane (OXLC -10.4%).
- ETFs: BDCL, BDCS, BIZD, FGB
Dec. 2, 2015, 4:17 PM
- Oxford Lane Capital (NASDAQ:OXLC) gets a green light from the board to repurchase up to $25M of the company's 7.50% Series 2023 Term Preferred Stock and up to $25M of the 8.125% Series 2024 Term Preferred Stock.
- The program will run until the end of June.
Nov. 17, 2015, 7:35 AM
- Estimated distributable NII of $13.2M or $0.74 per share. Dividend is $0.60.
- Net decrease in net assets from operations of $35.2M or $1.97 per share (unrealized depreciation of $41.1M).
- Net asset value per share of $11.33 down from $13.88 in Q2. Last night's close was $11.29.
- Conference call at 10 ET (dial-in)
- Previously: Oxford Lane Capital reports Q3 results (Nov. 17)
- OXLC flat premarket
Nov. 17, 2015, 6:07 AM
- Oxford Lane Capital (NASDAQ:OXLC): FQ2 NII of $0.33.
Oct. 21, 2015, 9:15 AM
- You wouldn't know it by today's busy M&A headlines, but a sizable slump in the prices of recent buyout loans, could threaten the pace of future deals.
- Nearly half of the $75B in buyout loans arranged in the U.S. and tracked by Bloomberg are trading below their issue price, and leveraged loans could be headed for their first loss since 2008.
- Investors have pulled cash from leveraged loan mutual funds for 12 straight weeks, and just $5.8B of CLOs were created last month, 34% below 2015's monthly average.
- The result is underwriters forced to sell debt at the steepest discounts to par in four years and investors pushing for higher interest rates to buffer against possible principle loss. It didn't scare Western Digital away from SanDisk, but Dell could need to raise nearly $50B for its purchase of EMC.
- Previously: Western Digital to buy SanDisk in $19B deal (Oct. 21)
- Previously: Lam Research to buy KLA-Tencor in $10.6B deal (Oct. 21)
- Senior loan ETFs: BKLN, OXLC, PPR, EFR, VVR, PHD, SRLN, NSL, BGB, BGX, FCT, SNLN, EVF, ECC, AFT, BSL, TSLF, FTSL, TLI, BHL