The Future Looks Dim For CLO-Laden Oxford Square Capital [Seeking Alpha]
Oxford Square Capital Corp. - Closed End Fund (OXSQ)
Company Research
Source: Seeking Alpha
SummaryEven though Oxford Square Capital is trading at 1.0 Price/NAVPS and an attractive 12% dividend, the company is overvalued.CLO issues continue to plague the company’s investment portfolio and are deteriorating the company’s NAV dramatically.Moody’s recent CLO sector analysis highlighting the CLO market’s deteriorations should indicate to investors that it is time to step away from CLO-laden BDCs and investment companies.Sourced fromSAThis article is an update to a previous Oxford Square Capital (NASDAQ:OXSQSourced from company2020 Q12019 10K2018 10KreportsThe company’s 35% decline in NAVPS is largely attributed to the declines in the investment portfolio; in particular, the declines in the value of its CLO holdings. In the company’s10K 2019Q1 2020The firm has seen its CLO investments decline by 40% in value since the beginning of the year and further declines are expected. This acceleration in the decline of the CLOs follows a trend that was present even before the pandemic hit
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OXSQ
News
- Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended December 31, 2023 and Declaration of Distributions on Common Stock for the Months Ending April 30, May 31, and June 30, 2024. [Yahoo! Finance]Yahoo! Finance
- Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended December 31, 2023 and Declaration of Distributions on Common Stock for the Months Ending April 30, May 31, and June 30, 2024.GlobeNewswire
- Oxford Square Capital Corp. Schedules Fourth Quarter 2023 Earnings Release and Conference Call for March 15, 2024GlobeNewswire
OXSQ
Sec Filings
- 3/19/24 - Form 10-K
- 3/15/24 - Form 8-K
- OXSQ's page on the SEC website