Oxford Lane Capital Corp (OXLC) Stock Rating Upgraded by Zacks Investment Research

Oxford Lane Capital Corp (NASDAQ:OXLC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $11.00 target price on the investment management company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 8.91% from the company’s previous close.

Separately, Maxim Group cut shares of Oxford Lane Capital Corp from a “hold” rating to a “sell” rating in a research report on Thursday, May 26th.

Shares of Oxford Lane Capital Corp (NASDAQ:OXLC) opened at 10.10 on Tuesday. The company has a 50 day moving average price of $10.79 and a 200 day moving average price of $9.32. Oxford Lane Capital Corp has a 52 week low of $5.70 and a 52 week high of $14.04.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.40 annualized dividend and a yield of 23.76%.

Oxford Lane Capital Corp Company Profile

Oxford Lane Capital Corp. is a non-diversified closed-end management investment company. The Fund’s investment objective is to maximize its portfolio’s risk adjusted total return and seeks to achieve its investment objective by investing in structured finance investments, specifically collateralized loan obligation (CLO) vehicles, which primarily own senior corporate debt securities.

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