Cobalt Capital Management Inc. acquired a new stake in Blue Owl Capital Corporation (NYSE:OBDC – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,192 shares of the company’s stock, valued at approximately $748,000. Blue Owl Capital makes up 0.3% of Cobalt Capital Management Inc.’s portfolio, making the stock its 24th biggest position.
Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after acquiring an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after acquiring an additional 1,320 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Blue Owl Capital in the third quarter valued at $30,000. Assetmark Inc. purchased a new stake in shares of Blue Owl Capital in the third quarter valued at $38,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Blue Owl Capital in the fourth quarter valued at $44,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.
Blue Owl Capital Stock Performance
Blue Owl Capital stock opened at $10.83 on Thursday. The stock’s 50-day moving average is $11.24 and its 200-day moving average is $11.76. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 15.47 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19.
Blue Owl Capital declared that its board has approved a share repurchase program on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors 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. Stockholders of record on Tuesday, June 30th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio (DPR) is 211.43%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on OBDC shares. Truist Financial reduced their price objective on 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. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wells Fargo & Company reduced their price objective on 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. Royal Bank Of Canada reduced their price objective on 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. Finally, Keefe, Bruyette & Woods reduced their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.
Check Out Our Latest Analysis on OBDC
About Blue Owl Capital
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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