Blue Owl Capital Corporation $OBDC Shares Purchased by Allen Investment Management LLC

Allen Investment Management LLC raised its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 906,168 shares of the company’s stock after buying an additional 83,977 shares during the quarter. Allen Investment Management LLC’s holdings in Blue Owl Capital were worth $11,264,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OBDC. Dynamic Technology Lab Private Ltd acquired a new position in Blue Owl Capital during the 3rd quarter worth about $1,208,000. Van ECK Associates Corp grew its position in Blue Owl Capital by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after acquiring an additional 757,203 shares in the last quarter. Border to Coast Pensions Partnership Ltd increased its stake in Blue Owl Capital by 19.2% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,550,000 shares of the company’s stock worth $19,793,000 after purchasing an additional 250,000 shares during the period. Tectonic Advisors LLC lifted its position in shares of Blue Owl Capital by 13.0% during the fourth quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company’s stock worth $12,975,000 after purchasing an additional 119,798 shares in the last quarter. Finally, Prairiewood Capital LLC lifted its position in shares of Blue Owl Capital by 26.1% during the fourth quarter. Prairiewood Capital LLC now owns 471,602 shares of the company’s stock worth $5,862,000 after purchasing an additional 97,481 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Up 1.6%

Blue Owl Capital stock opened at $11.45 on Tuesday. The stock has a 50-day simple moving average of $11.22 and a 200-day simple moving average of $11.86. The company has a market capitalization of $5.68 billion, a P/E ratio of 16.35 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.

Blue Owl Capital (NYSE:OBDC) last issued 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 firm had revenue of $391.00 million during the quarter, compared to analysts’ expectations of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. Equities research analysts expect that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.

Blue Owl Capital announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board 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. Investors of record on Tuesday, June 30th will be paid a dividend of $0.31 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a yield of 10.8%. Blue Owl Capital’s dividend payout ratio is currently 211.43%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OBDC. Royal Bank Of Canada dropped 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. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Truist Financial decreased their target price on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Keefe, Bruyette & Woods lowered their target price 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. Finally, Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.