Carmel Capital Partners LLC Sells 89,988 Shares of Blue Owl Capital Corporation $OBDC

Carmel Capital Partners LLC reduced its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 46.7% during the third quarter, HoldingsChannel.com reports. The fund owned 102,726 shares of the company’s stock after selling 89,988 shares during the quarter. Carmel Capital Partners LLC’s holdings in Blue Owl Capital were worth $1,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OBDC. First Horizon Advisors Inc. bought a new stake in shares of Blue Owl Capital in the second quarter worth about $40,000. Private Trust Co. NA grew its holdings in Blue Owl Capital by 86.6% during the 2nd quarter. Private Trust Co. NA now owns 3,123 shares of the company’s stock valued at $45,000 after buying an additional 1,449 shares in the last quarter. Root Financial Partners LLC purchased a new position in Blue Owl Capital during the 3rd quarter valued at approximately $47,000. Allworth Financial LP increased its stake in Blue Owl Capital by 24,533.3% in the 2nd quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock worth $53,000 after acquiring an additional 3,680 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Blue Owl Capital by 106.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock worth $125,000 after acquiring an additional 4,494 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Raymond James Financial set a $14.00 target price on shares of Blue Owl Capital and gave the company an “outperform” rating in a report on Tuesday, October 7th. Citizens Jmp dropped their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating on the stock in a research report on Monday, November 10th. Wells Fargo & Company lowered their price target on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Royal Bank Of Canada reduced their price objective on Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.56.

Blue Owl Capital Price Performance

Blue Owl Capital stock opened at $12.62 on Friday. Blue Owl Capital Corporation has a 12-month low of $11.65 and a 12-month high of $15.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $12.72 and a 200-day moving average price of $13.35. The firm has a market capitalization of $6.45 billion, a PE ratio of 8.95 and a beta of 0.67.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $453.07 million during the quarter, compared to analysts’ expectations of $466.81 million. Blue Owl Capital had a return on equity of 10.58% and a net margin of 36.89%. As a group, equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date of this dividend was Wednesday, December 31st. Blue Owl Capital’s dividend payout ratio (DPR) is currently 104.96%.

Insiders Place Their Bets

In other Blue Owl Capital news, CEO Craig Packer acquired 83,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average price of $11.75 per share, for a total transaction of $977,600.00. Following the acquisition, the chief executive officer directly owned 41,600 shares in the company, valued at $488,800. The trade was a -200.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Neena Reddy bought 7,890 shares of Blue Owl Capital stock in a transaction on Wednesday, November 26th. The stock was acquired at an average price of $13.06 per share, for a total transaction of $103,043.40. Following the purchase, the vice president owned 7,890 shares of the company’s stock, valued at approximately $103,043.40. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

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.