Rockefeller Capital Management L.P. increased its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC – Free Report) by 52.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,723,281 shares of the company’s stock after acquiring an additional 589,524 shares during the period. Rockefeller Capital Management L.P. owned 0.35% of Blue Owl Capital worth $21,420,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in OBDC. Lalia Capital LLC acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $37,991,000. UBS Group AG lifted its position in shares of Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after purchasing an additional 2,463,080 shares during the last quarter. Private Management Group Inc. bought a new stake in Blue Owl Capital during the 4th quarter valued at approximately $27,012,000. Wells Fargo & Company MN boosted its stake 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. acquired a new stake in Blue Owl Capital in the 3rd quarter valued at approximately $25,266,000. 42.83% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Truist Financial decreased their target price 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 cut Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. 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 note on Thursday, April 16th. Zacks Research raised shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. One 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.00.
Blue Owl Capital Trading Down 0.7%
Shares of OBDC opened at $10.79 on Tuesday. The stock’s fifty day simple moving average is $11.24 and its 200-day simple moving average is $11.71. The firm has a market capitalization of $5.36 billion, a PE ratio of 15.42 and a beta of 0.62. Blue Owl Capital Corporation has a 12-month low of $10.52 and a 12-month high of $15.19. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18.
Blue Owl Capital (NYSE:OBDC – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). The business had revenue of $391.00 million for the quarter, compared to analyst estimates of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. As a group, research analysts predict that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.
Blue Owl Capital Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.5%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s payout ratio is presently 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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