Elevation Point Wealth Partners LLC Lowers Stake in Blue Owl Capital Corporation $OBDC

Elevation Point Wealth Partners LLC lessened its position in Blue Owl Capital Corporation (NYSE:OBDC) by 35.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,967 shares of the company’s stock after selling 158,745 shares during the period. Elevation Point Wealth Partners LLC owned about 0.06% of Blue Owl Capital worth $3,359,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OBDC. Goldman Sachs Group Inc. raised its holdings in Blue Owl Capital by 25.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock valued at $28,211,000 after acquiring an additional 384,641 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Blue Owl Capital during the first quarter worth $6,641,000. EverSource Wealth Advisors LLC grew its position in shares of Blue Owl Capital by 106.1% in the second quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock valued at $125,000 after purchasing an additional 4,494 shares during the period. Squarepoint Ops LLC grew its position in shares of Blue Owl Capital by 133.8% in the second quarter. Squarepoint Ops LLC now owns 93,691 shares of the company’s stock valued at $1,344,000 after purchasing an additional 53,613 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in Blue Owl Capital by 24.1% in the second quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company’s stock valued at $235,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on OBDC shares. Wall Street Zen raised Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Truist Financial cut their price objective on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Wells Fargo & Company decreased 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 report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Blue Owl Capital Trading Down 0.0%

NYSE OBDC opened at $10.81 on Friday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.45 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 one year low of $10.52 and a one year high of $15.19. The company’s 50 day moving average price is $11.13 and its 200 day moving average price is $11.56.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The business had revenue of $391.00 million for the quarter, compared to analysts’ expectations of $422.02 million. On average, sell-side analysts predict that Blue Owl Capital Corporation will post 1.27 EPS for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 annualized dividend and a dividend yield of 11.5%. Blue Owl Capital’s payout ratio is presently 177.14%.

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.