Prime Capital Investment Advisors LLC Trims Position in Blue Owl Capital Corporation $OBDC

Prime Capital Investment Advisors LLC cut its position in Blue Owl Capital Corporation (NYSE:OBDC) by 15.4% in the second quarter, HoldingsChannel.com reports. The firm owned 20,938 shares of the company’s stock after selling 3,800 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Blue Owl Capital were worth $300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of Blue Owl Capital in the first quarter worth $28,000. Zions Bancorporation National Association UT purchased a new stake in shares of Blue Owl Capital in the first quarter worth $59,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Blue Owl Capital in the first quarter worth $61,000. Bayforest Capital Ltd purchased a new position in Blue Owl Capital during the first quarter valued at $73,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Blue Owl Capital by 23.4% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 5,803 shares of the company’s stock valued at $85,000 after acquiring an additional 1,100 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities 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 research note on Tuesday. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.21.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC opened at $12.13 on Friday. Blue Owl Capital Corporation has a 52 week low of $12.04 and a 52 week high of $15.73. The stock has a market capitalization of $6.20 billion, a P/E ratio of 8.03 and a beta of 0.75. The firm has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $14.13. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The business had revenue of $485.84 million during the quarter, compared to analysts’ expectations of $480.42 million. On average, analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.01. Blue Owl Capital’s dividend payout ratio is 98.01%.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.