MARKET

OXSQ

OXSQ

OXFORD SQUARE CA
NASDAQ

Real-time Quotes | Nasdaq Last Sale

3.110
-0.150
-4.60%
Closed 16:00 11/30 EST
OPEN
3.270
PREV CLOSE
3.260
HIGH
3.280
LOW
3.110
VOLUME
332.98K
TURNOVER
--
52 WEEK HIGH
6.26
52 WEEK LOW
2.040
MARKET CAP
154.22M
P/E (TTM)
-3.5253
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Do Hedge Funds Love Oxford Square Capital Corp. (OXSQ)?
Insider Monkey · 3d ago
80 Stocks Trading Ex-Dividend Today, Thursday, Nov. 12, 2020:
UPS, OTTR, EMR, ENB, SHBI, FMO, LPX, OMP, TSBK, WAL, PFC, LLY, GCBC, BPRN, BSM, ODC, RTX, OXSQ, WAB, WEC, WRTG, SHW, GRC, SJM, CLCT, SCHW, BFST, FCFS, LAD, MSEX, HTLF, XEC, EQNR, HP, MMS, GLW, BSET, KR, JEF, AHC, HON,
Benzinga · 11/12 13:25
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2020 and Declaration of Distributions of Common Stock for the Months Ending January 31, February 28, and March 31, 2021
GREENWICH, Conn., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended September 30, 2020. • As of September 30, 2020, net asset value (“NAV”) per share was $3.85, compared with the NAV per share of $3.54 at the prior quarter end. * For the quarter ended September 30, 2020 we recorded GAAP net investment income of approximately $4.3 million, or $0.09 per share, which was approximately equal to the net investment income earned during the second quarter of 2020. * We recorded net unrealized appreciation of approximately $20.9 million and net realized losses on investments of approximately $4.4 million for the quarter ended September 30, 2020, compared to net unrealized appreciation of approximately $19.0 million and net realized losses on investments of approximately $2.8 million for the quarter ended June 30, 2020. * In total, we had a net increase in net assets from operations of approximately $20.8 million, or $0.42 per share, for the quarter ended September 30, 2020, compared with a net increase in net assets from operations of approximately $20.6 million, or $0.41 per share, for the quarter ended June 30, 2020.• Total investment income for the quarter ended September 30, 2020 amounted to approximately $8.2 million, compared with approximately $8.3 million for the quarter ended June 30, 2020. For the quarter ended September 30, 2020 the components of investment income were as follows: * $4.5 million from our debt investments, * $3.6 million from our CLO equity investments, and * $0.2 million from all other sources.• Our total expenses for the quarter ended September 30, 2020 were approximately $4.0 million, compared with total expenses of approximately $3.9 million for the second quarter of 2020.• During the third quarter of 2020, we made investments of approximately $18.3 million and received proceeds of approximately $8.3 million from sales of investments, and $0.6 million from repayments and amortization payments on our debt investments.• As of September 30, 2020, the following metrics applied (note that none of these values represents a total return to shareholders): * The weighted average yield of our debt investments was 8.3% at current cost, compared with 8.1% as of June 30, 2020. * The weighted average effective yield of our CLO equity investments at current cost was 7.7%, compared with 7.1% as of June 30, 2020. * The weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 11.7%, compared with 11.6% as of June 30, 2020.• Our weighted average credit rating was 2.3 based on total fair value and 2.5 based on total principal value as of September 30, 2020, which is unchanged compared to June 30, 2020.• As of September 30, 2020, we had two debt investments on non-accrual status, with a combined fair value of $5.7 million. Also, as of September 30, 2020, our preferred equity investments in one of our portfolio companies were on non-accrual status, which had zero fair value.• On October 22, 2020, our Board of Directors declared the following distributions on our common stock:  Month EndingRecord DatePayment DateAmount Per Share January 31, 2021January 15, 2021January 29, 2021$0.035 February 28, 2021February 12, 2021February 26, 2021$0.035 March 31, 2021March 17, 2021March 31, 2021$0.035 In light of current economic and market conditions, including as a result of the global crisis caused by the spread of the COVID-19 virus, we believe that no reliance should be placed on these distributions representing the prospect for any particular level of common stock distributions for any periods in the future.We will host a conference call to discuss our third quarter results today, Tuesday, October 27, 2020 at 9:00 AM ET. Please call 1-888-339-0740 to participate. A recording of the conference call will be available to replay for approximately 30 days following the call. The replay number is 1-877-344-7529, and the replay passcode is 10149450.A presentation containing further detail regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordsquarecapital.com.OXFORD SQUARE CAPITAL CORP.CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES   September 30, 2020 December 31, 2019   (unaudited)   ASSETS         Non-affiliated/non-control investments (cost: $443,810,054 and $467,828,907, respectively) $295,267,639  $361,985,203  Affiliated investments (cost: $16,836,822 and $16,836,822, respectively)  —   2,816,790  Cash equivalents  2,220,960   14,410,486  Restricted cash  —   2,050,452  Interest and distributions receivable  1,539,157   3,480,036  Other assets  690,468   523,626  Total assets $299,718,224  $385,266,593  LIABILITIES         Notes payable – 6.50% Unsecured Notes (net of deferred issuance costs of $1,136,908 and $1,380,658, respectively) $63,233,317  $62,989,567  Notes payable – 6.25% Unsecured Notes (net of deferred issuance costs of $1,301,850 and $1,476,878, respectively)  43,488,900   43,313,872  Notes payable – Credit Facility (net of deferred issuance costs of $0 and $10,051)  —   28,080,550  Base management fee and net investment income incentive fee payable to affiliate  1,123,449   1,480,653  Accrued interest payable  481,261   632,235  Accrued expenses  422,828   771,174  Total liabilities  108,749,755   137,268,051  COMMITMENTS AND CONTINGENCIES (Note 13)         NET ASSETS         Common stock, $0.01 par value, 100,000,000 shares authorized; 49,589,607 and 48,448,987 shares issued and outstanding, respectively  495,895   484,489  Capital in excess of par value  457,810,322   451,839,302  Total distributable earnings/(accumulated losses)  (267,337,748)  (204,325,249) Total net assets  190,968,469   247,998,542  Total liabilities and net assets $299,718,224  $385,266,593  Net asset value per common share $3.85  $5.12  OXFORD SQUARE CAPITAL CORP.CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)  Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 INVESTMENT INCOME                 From non-affiliated/non-control investments:                   Interest income – debt investments $4,492,647  $7,114,678  $15,020,284  $21,695,535    Income from securitization vehicles and investments  3,568,516   6,131,870   11,545,539   19,628,276    Other income  163,976   162,796   738,625   887,662      Total investment income from non-affiliated/non-control investments  8,225,139   13,409,344   27,304,448   42,211,473  From affiliated investments:                   Dividend income – non-cash  —   673,706   —   7,009,592      Total investment income from affiliated investments  —   673,706   —   7,009,592        Total investment income  8,225,139   14,083,050   27,304,448   49,221,065  EXPENSES                 Interest expense  1,908,206   2,522,451   5,988,116   7,478,451  Base management fees  1,123,450   1,729,152   3,365,332   5,223,813  Professional fees  321,059   349,564   1,228,794   1,071,633  Compensation expense  185,659   195,034   554,288   622,937  General and administrative  416,486   349,662   1,195,166   1,232,254    Total expenses before incentive fees  3,954,860   5,145,863   12,331,696   15,629,088  Net investment income incentive fees  —   —   —   3,511,493    Total expenses  3,954,860   5,145,863   12,331,696   19,140,581  Net investment income  4,270,279   8,937,187   14,972,752   30,080,484  Net change in unrealized appreciation/(depreciation) on investments:                 Non-affiliated/non-control investments  21,580,813   (34,478,523)  (42,698,711)  (42,201,632) Affiliated investments  (634,089)   (7,131,376)  (2,816,790)  (14,009,646)   Total net change in unrealized appreciation/(depreciation)   on investments  20,946,724   (41,609,899)  (45,515,501)  (56,211,278) Net realized gains/(losses):                 Non-affiliated/non-control investments  (4,368,235)  (432,246)  (7,405,716)  (1,709,816) Extinguishment of debt  —   (5,506)  (5,211)  (56,592)   Total net realized losses  (4,368,235)  (437,752)  (7,410,927)  (1,766,408) Net increase/(decrease) in net assets resulting from operations $20,848,768  $(33,110,464) $(37,953,676) $(27,897,202) Net increase in net assets resulting from net investment income per common share (Basic and Diluted) $0.09  $0.19  $0.30  $0.63  Net increase/(decrease) in net assets resulting from operations per common share (Basic and Diluted) $0.42  $(0.69) $(0.77) $(0.59) Weighted average shares of common stock outstanding (Basic and Diluted)  49,589,607   47,740,799   49,439,478   47,681,235  Distributions per share $0.105  $0.201  $0.507  $0.602  FINANCIAL HIGHLIGHTS – (unaudited)Financial highlights for the three and nine months ended September 30, 2020 and 2019, respectively, are as follows:Per Share Data Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Net asset value as of beginning of period $3.54  $6.31  $5.12  $6.60  Net investment income(1)  0.09   0.19   0.30   0.63  Net realized and unrealized gains/(losses)(2)  0.33   (0.88)  (1.06)  (1.21) Net increase/(decrease) in net asset value from operations  0.42   (0.69)  (0.76)  (0.58) Distributions per share from net investment income  (0.09)   (0.17)  (0.42)  (0.51) Tax return of capital distributions(3)  (0.02)   (0.03)  (0.09)  (0.09) Total distributions  (0.11)   (0.20)  (0.51)  (0.60) Effect of shares issued/repurchased, gross  —   —   —   —  Net asset value at end of period $3.85  $5.42  $3.85  $5.42  Per share market value at beginning of period $2.80  $6.40  $5.44  $6.47  Per share market value at end of period $2.47  $6.23  $2.47  $6.23  Total return based on Market Value(4)  (8.22)%  0.46%  (46.71)%  5.69% Total return based on Net Asset Value(5)  11.72%   (10.92)%  (14.90)%  (8.76)% Shares outstanding at end of period  49,589,607   47,790,071   49,589,607   47,790,071                   Ratios/Supplemental Data(8)                Net assets at end of period (000’s) $190,968  $258,960  $190,968  $258,960  Average net assets (000’s)  183,148   279,978   186,744   301,766  Ratio of operating expenses to average net assets(6)  8.64%   7.35%  8.80%  8.46% Ratio of net investment income to average net assets(6)  9.33%   12.77%  10.69%  13.29% Portfolio turnover rate(7)  3.22%   1.18%  15.71%  9.07% ____________(1) Represents per share net investment income for the period, based upon weighted average shares outstanding. (2) Net realized and unrealized gains/(losses) include rounding adjustments to reconcile change in net asset value per share. (3) Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that fiscal year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the fiscal year. The amounts and sources of distributions reported are only estimates (based on an average of the reported tax character historically) and are not being provided for U.S. tax reporting purposes. (4) Total return based on market value equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming distribution reinvestment prices obtained under the Company’s distribution reinvestment plan, excluding any discounts. Total return is not annualized. (5) Total return based on net asset value equals the increase or decrease of ending net asset value over beginning net asset value, plus distributions, divided by the beginning net asset value. Total return is not annualized. (6) Annualized. (7) Portfolio turnover rate is calculated using the lesser of the year-to-date cash investment sales and debt repayments or year-to-date cash investment purchases over the average of the total investments at fair value. (8) The following table provides supplemental performance ratios (annualized) measured for the three and nine months ended September 30, 2020 and 2019:  Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Ratio of operating expenses to average net assets:             Operating expenses before incentive fees 8.64% 7.35% 8.80% 6.91% Net investment income incentive fees —% —% —% 1.55% Ratio of expenses, excluding interest expense 4.47% 3.75% 4.53% 5.15% About Oxford Square Capital Corp. Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.Forward-Looking Statements This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy.  Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.Contact: Bruce Rubin 203-983-5280
GlobeNewswire · 10/27 13:00
Oxford Square Capital Q3 total investment income beats, NAV rises Q/Q
Oxford Square Capital (OXSQ) Q3 GAAP net investment income of 9 cents per share misses the average analyst estimate of 16 cents and compares with 9 cents in Q2 2020.Q3
Seekingalpha · 10/27 12:28
Oxford Square Capital Q3 EPS $0.09 Beats $0.08 Estimate
Oxford Square Capital (NASDAQ:OXSQ) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.08 by 12.5 percent. This is a 52.63 percent decrease over earnings of $0.19 per share
Benzinga · 10/27 12:05
Oxford Square Capital NII misses by $0.07, beats on total investment income
Oxford Square Capital (OXSQ): Q3 GAAP NII of $0.09 misses by $0.07.Total investment income of $8.2M (-41.8% Y/Y) beats by $0.2M.
Seekingalpha · 10/27 12:03
High Risk In Oxford Square Capital
OXSQ has been using risky investments to boost revenues for years, and it backfired, leading to a 60% decline in revenue.Despite that the stock trades at a discount to NAV and yields a forward dividend of 16.5%, this stock is not suitable for risk-averse investors.A better alternative for retirees would be OCSL, currently yielding an 8.7% dividend.
Seekingalpha · 10/05 07:13
Oxford Square Capital declares $0.035 dividend
Oxford Square Capital (OXSQ) declares $0.035/share monthly dividend, in line with previous.Forward yield 16.18%Payable Oct. 30; for shareholders of record Oct. 16; ex-div Oct. 15.Payable Nov. 30; for shareholders of
Seekingalpha · 09/14 19:06
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Learn about the latest financial forecast of OXSQ. Analyze the recent business situations of OXFORD SQUARE CA through EPS, BVPS, FPS, and other data. This information may help you make smarter investment decisions.
Analyst Rating

Based on 1 analysts

Hold

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

Analyst Price Target
The average OXSQ stock price target is 5.00 with a high estimate of 5.00 and a low estimate of 5.00.
EPS
Institutional Holdings
Institutions: 117
Institutional Holdings: 5.68M
% Owned: 11.46%
Shares Outstanding: 49.59M
TypeInstitutionsShares
Increased
9
192.22K
New
12
-300.59K
Decreased
21
577.52K
Sold Out
0
0
  • Performance
  • Asset Allocation
  • Dividend History
No Data
Industry
Closed End Funds
-0.88%
Collective Investments
-1.05%
Key Executives
Chairman/Independent Director
Steven Novak
President/Chief Operating Officer
Saul Rosenthal
Chief Executive Officer/Director
Jonathan Cohen
Chief Financial Officer/Chief Accounting Officer/Treasurer/Secretary
Bruce Rubin
Chief Compliance Officer
Gerald Cummins
Director
Charles Royce
Independent Director
Richard Neu
Independent Director
George Stelljes
  • Dividends
  • Splits
  • Insider Activity
Declaration Date
Dividend Per Share
Ex-Div Date
10/22/2020
Dividend USD 0.035
03/16/2021
10/22/2020
Dividend USD 0.035
02/11/2021
10/22/2020
Dividend USD 0.035
01/14/2021
09/14/2020
Dividend USD 0.035
12/15/2020
09/14/2020
Dividend USD 0.035
11/12/2020
09/14/2020
Dividend USD 0.035
10/15/2020
06/01/2020
Dividend USD 0.035
09/15/2020
06/01/2020
Dividend USD 0.035
08/14/2020
06/01/2020
Dividend USD 0.035
07/16/2020
02/24/2020
Dividend USD 0.067
06/12/2020
02/24/2020
Dividend USD 0.067
05/13/2020
02/24/2020
Dividend USD 0.067
04/14/2020
10/25/2019
Dividend USD 0.067
03/16/2020
10/25/2019
Dividend USD 0.067
02/13/2020
10/25/2019
Dividend USD 0.067
01/16/2020
07/25/2019
Dividend USD 0.067
12/17/2019
07/25/2019
Dividend USD 0.067
11/14/2019
07/25/2019
Dividend USD 0.067
10/18/2019
04/23/2019
Dividend USD 0.067
09/20/2019
04/23/2019
Dividend USD 0.067
08/22/2019
04/23/2019
Dividend USD 0.067
07/23/2019
02/22/2019
Dividend USD 0.067
06/20/2019
02/22/2019
Dividend USD 0.067
05/23/2019
02/22/2019
Dividend USD 0.067
04/22/2019
02/22/2019
Dividend USD 0.2
03/14/2019
10/26/2018
Dividend USD 0.2
12/14/2018
07/26/2018
Dividend USD 0.2
09/13/2018
04/24/2018
Dividend USD 0.2
06/14/2018
02/22/2018
Dividend USD 0.2
03/15/2018
10/27/2017
Dividend USD 0.2
12/14/2017
02/27/2017
Dividend USD 0.2
09/14/2017
02/27/2017
Dividend USD 0.2
06/14/2017
02/27/2017
Dividend USD 0.2
03/14/2017
10/26/2016
Dividend USD 0.29
12/14/2016
07/28/2016
Dividend USD 0.29
09/14/2016
04/28/2016
Dividend USD 0.29
06/14/2016
02/18/2016
Dividend USD 0.29
03/15/2016
11/02/2015
Dividend USD 0.29
12/14/2015
08/04/2015
Dividend USD 0.29
09/14/2015
04/27/2015
Dividend USD 0.29
06/12/2015
02/19/2015
Dividend USD 0.27
03/13/2015
10/30/2014
Dividend USD 0.29
12/15/2014
07/31/2014
Dividend USD 0.29
09/12/2014
05/01/2014
Dividend USD 0.29
06/12/2014
03/05/2014
Dividend USD 0.29
03/21/2014
10/29/2013
Dividend USD 0.29
12/13/2013
07/30/2013
Dividend USD 0.29
09/12/2013
04/30/2013
Dividend USD 0.29
06/12/2013
02/28/2013
Dividend USD 0.29
03/20/2013
11/01/2012
Dividend USD 0.29
12/13/2012
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About OXSQ
Oxford Square Capital Corp., formerly TICC Capital Corp., is a closed-end, non-diversified management investment company. The Company's investment objective is to maximize its portfolio's total return. The Company primarily focuses on seeking current income by investing primarily in corporate debt securities. The Company's debt investments may include syndicated loans and bilateral loans. The Company holds interests in structured finance investments, including collateralized loan obligation (CLO) investment vehicles that own debt securities. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle. Its portfolio includes its investments in various industries, such as structured finance, telecommunication services, business services, printing and publishing, and financial intermediaries. TICC Management, LLC is its investment advisor.
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