370,782 Shares in Blue Owl Capital Corporation $OBDC Bought by Closed End Fund Advisors Inc.

Closed End Fund Advisors Inc. purchased a new position in Blue Owl Capital Corporation (NYSE:OBDC) during the fourth quarter, Holdings Channel reports. The firm purchased 370,782 shares of the company’s stock, valued at approximately $4,609,000. Blue Owl Capital accounts for 2.7% of Closed End Fund Advisors Inc.’s portfolio, making the stock its 7th largest position.

Other hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Blue Owl Capital during the third quarter valued at approximately $1,208,000. Van ECK Associates Corp lifted its position in Blue Owl Capital by 6.0% during the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after purchasing an additional 757,203 shares during the last quarter. Tectonic Advisors LLC lifted its position in Blue Owl Capital by 13.0% during the fourth quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company’s stock valued at $12,975,000 after purchasing an additional 119,798 shares during the last quarter. Sound Income Strategies LLC lifted its position in Blue Owl Capital by 11.4% during the fourth quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock valued at $47,665,000 after purchasing an additional 387,347 shares during the last quarter. Finally, Prairiewood Capital LLC lifted its position in Blue Owl Capital by 26.1% during the fourth quarter. Prairiewood Capital LLC now owns 471,602 shares of the company’s stock valued at $5,862,000 after purchasing an additional 97,481 shares during the last quarter. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Trading Down 2.4%

Shares of OBDC opened at $11.03 on Friday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 15.75 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.19. The firm has a 50 day moving average price of $11.21 and a 200-day moving average price of $11.84.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $391.00 million during 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%. As a group, equities research analysts forecast that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.

Blue Owl Capital declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Blue Owl Capital Cuts Dividend

The firm also recently disclosed 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s payout ratio is presently 211.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Keefe, Bruyette & Woods dropped their target price on shares of 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. Royal Bank Of Canada lowered their price objective on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, Wall Street Zen lowered shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.00.

Blue Owl Capital 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.