Stephens Inc. AR lowered its position in shares of Blue Owl Capital Corporation (NYSE:OBDC – Free Report) by 32.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,665,358 shares of the company’s stock after selling 792,380 shares during the period. Stephens Inc. AR’s holdings in Blue Owl Capital were worth $20,700,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after purchasing an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Blue Owl Capital by 166.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock worth $27,000 after purchasing an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Blue Owl Capital during the 3rd quarter worth about $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Blue Owl Capital during the 3rd quarter worth about $30,000. Finally, Assetmark Inc. acquired a new stake in shares of Blue Owl Capital during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 42.83% of the company’s stock.
Blue Owl Capital Trading Down 0.5%
OBDC opened at $11.21 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $5.56 billion, a PE ratio of 16.01 and a beta of 0.64. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The firm has a 50-day moving average price of $11.25 and a two-hundred day moving average price of $11.99.
Blue Owl Capital Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.1%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 211.43%.
Blue Owl Capital announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on OBDC shares. Truist Financial dropped their target price on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen cut shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada lowered 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 research report on Friday, February 20th. Finally, Keefe, Bruyette & Woods lowered 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 report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $13.33.
View Our Latest Research Report on Blue Owl Capital
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.
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