Saul B. Rosenthal, the President and a director of Oxford Lane Capital Corp. (NASDAQ:OXLC), recently acquired a substantial amount of the company's common stock. On December 17, 2024, Rosenthal purchased 2,960,000 shares at $5.08 per share, near the stock's 52-week low of $4.83. The company, currently valued at $1.72 billion, offers an impressive 21% dividend yield and trades at a P/E ratio of 9.25. This transaction, totaling approximately $15,036,800, was executed through a joint tenants in common account. Notably, Rosenthal holds a 50% pecuniary interest in this account, with the remaining interest held by Jonathan H. Cohen, CEO and a director of Oxford Lane Capital.
Following this acquisition, Rosenthal's direct ownership in Oxford Lane Capital stands at 5,474,887 shares. Additionally, he indirectly holds 2,315,000 shares through the Saul Rosenthal 2012 Family Trust. This move underscores Rosenthal's significant stake and continued confidence in the company's prospects.
In other recent news, Oxford Lane Capital Corp. has reported significant developments in its financial performance. The firm's second fiscal quarter results for 2025 revealed a decrease in net asset value per share from $4.91 to $4.76. However, GAAP total investment income rose to approximately $105.1 million, with GAAP net investment income remaining steady at $0.22 per share. Core net investment income was reported at $99.4 million, or $0.32 per share, marking a decrease from the previous quarter.
In a recent analysis, Lucid (NASDAQ:LCID) Capital Markets initiated coverage on Oxford Lane, assigning a Buy rating and setting a price target of $5.50. The firm highlighted the company's consistent strategy and experienced management team as key factors for the favorable rating. Lucid Capital also forecasts a regular dividend of $1.02 for the fiscal year 2025, which would result in an 18.5% distribution yield based on the price target.
Oxford Lane has also announced an estimated net asset value per share for October 2024, projected to be between $4.82 and $4.92. Despite a slight decrease in the weighted average yields on CLO debt and equity investments, Oxford Lane continues to maintain an opportunistic approach to CLO investments, seeing attractive opportunities in both secondary and primary markets. The firm has also confirmed its commitment to continue distributing common stock at $0.09 per share for the upcoming months.
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