Blue Owl Capital (NYSE:OBDC) Director Buys $11,210.00 in Stock

Blue Owl Capital Corporation (NYSE:OBDC) Director Eric Kaye bought 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $11.21 per share, for a total transaction of $11,210.00. Following the purchase, the director owned 21,144 shares in the company, valued at approximately $237,024.24. This represents a 4.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Blue Owl Capital Stock Up 0.9%

NYSE:OBDC opened at $11.28 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 16.11 and a beta of 0.64. Blue Owl Capital Corporation has a one year low of $10.52 and a one year high of $15.19. The stock has a 50-day simple moving average of $11.26 and a 200 day simple moving average of $11.99.

Blue Owl Capital (NYSE:OBDC) last released its earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The firm had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. Sell-side analysts predict that Blue Owl Capital Corporation will post 1.29 EPS for the current fiscal year.

Blue Owl Capital announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Blue Owl Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.24 annualized dividend and a dividend yield of 11.0%. Blue Owl Capital’s payout ratio is 211.43%.

Institutional Investors Weigh In On Blue Owl Capital

Several large investors have recently made changes to their positions in OBDC. IFP Advisors Inc grew its holdings in Blue Owl Capital by 79.6% in the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after buying an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Blue Owl Capital by 166.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after acquiring an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in Blue Owl Capital during the 3rd quarter valued at $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Blue Owl Capital during the 3rd quarter worth $30,000. Finally, AG Campbell Advisory LLC acquired a new position in Blue Owl Capital during the 4th quarter worth $36,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial decreased their target price on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Wells Fargo & Company dropped their target price on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus price target of $13.33.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.