OMERS ADMINISTRATION Corp raised its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC – Free Report) by 64.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,801,012 shares of the company’s stock after buying an additional 707,055 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Blue Owl Capital were worth $22,387,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in OBDC. Lalia Capital LLC purchased a new position in Blue Owl Capital during the 4th quarter valued at $37,991,000. UBS Group AG increased its position in Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock valued at $106,011,000 after purchasing an additional 2,463,080 shares during the period. Private Management Group Inc. purchased a new position in Blue Owl Capital during the 4th quarter valued at $27,012,000. Wells Fargo & Company MN increased its position in Blue Owl Capital by 142.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,440,960 shares of the company’s stock valued at $42,771,000 after purchasing an additional 2,022,806 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in Blue Owl Capital during the 3rd quarter valued at $25,266,000. 42.83% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Royal Bank Of Canada reduced their price objective on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Zacks Research raised shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. Wells Fargo & Company reduced 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. Finally, Truist Financial reduced their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.
Blue Owl Capital Stock Performance
Shares of OBDC stock opened at $11.05 on Tuesday. 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 is $11.23 and its 200 day moving average is $11.79. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 15.78 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 (NYSE:OBDC – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The firm had revenue of $391.00 million for the quarter, compared to analysts’ expectations of $422.02 million. Sell-side analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.
Blue Owl Capital announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Blue Owl Capital Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio is 211.43%.
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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