Brown University Sells 1,700,000 Shares of Blue Owl Capital Corporation $OBDC

Brown University lowered its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 52.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,524,863 shares of the company’s stock after selling 1,700,000 shares during the period. Blue Owl Capital comprises 16.6% of Brown University’s investment portfolio, making the stock its 3rd biggest position. Brown University’s holdings in Blue Owl Capital were worth $16,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OBDC. Bank of America Corp DE increased its stake in Blue Owl Capital by 6.5% during the 3rd quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock worth $169,527,000 after buying an additional 811,973 shares in the last quarter. Strs Ohio lifted its position in shares of Blue Owl Capital by 411.4% in the first quarter. Strs Ohio now owns 10,941,976 shares of the company’s stock valued at $121,018,000 after acquiring an additional 8,802,373 shares in the last quarter. UBS Group AG boosted its stake in shares of Blue Owl Capital by 40.6% in the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after acquiring an additional 2,463,080 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Blue Owl Capital by 13.7% in the third quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock worth $69,005,000 after acquiring an additional 659,025 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Blue Owl Capital by 5.2% during the first quarter. Sound Income Strategies LLC now owns 3,976,748 shares of the company’s stock worth $42,790,000 after purchasing an additional 196,847 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Trading Up 2.1%

OBDC opened at $10.96 on Friday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 15.66 and a beta of 0.62. The company’s 50 day simple moving average is $11.08 and its two-hundred day simple moving average is $11.49. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The company had revenue of $391.00 million during the quarter, compared to analysts’ expectations of $422.02 million. Analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.3%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio is presently 177.14%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. 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 note on Thursday, April 16th. Wells Fargo & Company lowered their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Truist Financial dropped their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. 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. Based on data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

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.