Prairiewood Capital LLC lifted its position in Blue Owl Capital Corporation (NYSE:OBDC – Free Report) by 17.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 552,301 shares of the company’s stock after purchasing an additional 80,699 shares during the period. Blue Owl Capital comprises approximately 1.8% of Prairiewood Capital LLC’s portfolio, making the stock its 18th biggest holding. Prairiewood Capital LLC owned about 0.11% of Blue Owl Capital worth $6,108,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in Blue Owl Capital by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after buying an additional 757,203 shares during the period. Bank of America Corp DE increased its position in shares of Blue Owl Capital by 6.5% in the third quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock valued at $169,527,000 after acquiring an additional 811,973 shares during the period. UBS Group AG raised its stake in shares of Blue Owl Capital by 40.6% during the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock valued at $106,011,000 after acquiring an additional 2,463,080 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Blue Owl Capital by 13.7% during the third quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock valued at $69,005,000 after acquiring an additional 659,025 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Blue Owl Capital by 11.4% during the fourth quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock worth $47,665,000 after purchasing an additional 387,347 shares during the period. 42.83% of the stock is owned by hedge funds and other institutional investors.
Blue Owl Capital Price Performance
Shares of OBDC stock opened at $10.88 on Friday. The business’s fifty day moving average is $11.24 and its 200 day moving average is $11.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 15.55 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.
Blue Owl Capital Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 11.4%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 211.43%.
Analyst Ratings Changes
OBDC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut 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 note on Thursday, April 16th. Wells Fargo & Company lowered their price target on 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. Truist Financial dropped their price objective on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.00.
View Our Latest Research Report on Blue Owl Capital
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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