Tradition Wealth Management LLC Cuts Position in Blue Owl Capital Corporation $OBDC

Tradition Wealth Management LLC lowered its holdings in Blue Owl Capital Corporation (NYSE:OBDCFree Report) by 24.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 163,785 shares of the company’s stock after selling 51,843 shares during the quarter. Tradition Wealth Management LLC’s holdings in Blue Owl Capital were worth $2,036,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OBDC. IFP Advisors Inc lifted its stake in shares of Blue Owl Capital by 79.6% during the third 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 grew its stake 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 buying an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Blue Owl Capital during the 3rd quarter valued at about $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Blue Owl Capital during the third quarter valued at approximately $30,000. Finally, Assetmark Inc. purchased a new stake in shares of Blue Owl Capital during the third quarter valued at approximately $38,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OBDC shares. Royal Bank Of Canada decreased their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Truist Financial dropped their price target on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Keefe, Bruyette & Woods decreased 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. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and an average target price of $13.00.

View Our Latest Stock Report on OBDC

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $11.03 on Monday. 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 company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 15.75 and a beta of 0.62. Blue Owl Capital Corporation has a twelve month low of $10.52 and a twelve month high of $15.19. The business has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $11.84.

Blue Owl Capital (NYSE:OBDCGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The business had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. As a group, equities research analysts expect 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. Stockholders of record on Tuesday, June 30th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.2%. 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 of Directors has authorized a share repurchase plan on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

About Blue Owl Capital

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Blue Owl Capital (NYSE:OBDC)

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