Brookstone Capital Management Sells 2,927 Shares of Blue Owl Capital Corporation $OBDC

Brookstone Capital Management lessened its position in Blue Owl Capital Corporation (NYSE:OBDC) by 2.9% during the second quarter, Holdings Channel.com reports. The fund owned 98,655 shares of the company’s stock after selling 2,927 shares during the period. Brookstone Capital Management’s holdings in Blue Owl Capital were worth $1,415,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hamilton Lane Advisors LLC bought a new stake in Blue Owl Capital in the 2nd quarter worth $48,845,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Blue Owl Capital by 85.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,055 shares of the company’s stock worth $15,042,000 after acquiring an additional 474,100 shares during the last quarter. Graypoint LLC grew its holdings in Blue Owl Capital by 49.4% in the 2nd quarter. Graypoint LLC now owns 590,048 shares of the company’s stock worth $8,461,000 after acquiring an additional 194,999 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Blue Owl Capital in the 2nd quarter worth $734,619,000. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Blue Owl Capital by 217.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 43,069 shares of the company’s stock worth $631,000 after purchasing an additional 29,521 shares during the period. Institutional investors own 42.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on OBDC. Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a “strong-buy” rating in a research report on Friday, August 8th. Finally, Raymond James Financial set a $14.00 target price on shares of Blue Owl Capital and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus target price of $15.21.

Blue Owl Capital Trading Up 0.3%

Shares of NYSE OBDC opened at $13.04 on Friday. Blue Owl Capital Corporation has a 1 year low of $12.04 and a 1 year high of $15.73. The stock has a market cap of $6.66 billion, a P/E ratio of 8.63 and a beta of 0.75. The firm has a 50-day moving average of $13.49 and a 200 day moving average of $14.05. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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 company had revenue of $485.84 million during the quarter, compared to analysts’ expectations of $480.42 million. As a group, sell-side analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.02 per share. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Blue Owl Capital’s dividend payout ratio is 98.01%.

Blue Owl Capital Profile

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.