Next Capital Management LLC boosted its holdings in Blue Owl Capital Corporation (NYSE:OBDC – Free Report) by 610.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,418,819 shares of the company’s stock after acquiring an additional 1,219,235 shares during the quarter. Blue Owl Capital comprises about 4.8% of Next Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Next Capital Management LLC’s holdings in Blue Owl Capital were worth $15,789,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Blue Owl Capital by 25.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock worth $28,211,000 after purchasing an additional 384,641 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Blue Owl Capital during the first quarter valued at approximately $6,641,000. EverSource Wealth Advisors LLC boosted its holdings in Blue Owl Capital by 106.1% during the second quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock worth $125,000 after buying an additional 4,494 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Blue Owl Capital by 133.8% during the second quarter. Squarepoint Ops LLC now owns 93,691 shares of the company’s stock worth $1,344,000 after buying an additional 53,613 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in Blue Owl Capital by 24.1% in the second quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company’s stock worth $235,000 after buying an additional 3,200 shares during the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Wall Street Zen cut Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Truist Financial reduced their price objective on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Keefe, Bruyette & Woods decreased their target price on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Finally, Wells Fargo & Company cut their target price 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. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.00.
Blue Owl Capital Stock Performance
Shares of OBDC opened at $10.99 on Friday. The company has a 50-day moving average of $11.02 and a two-hundred day moving average of $11.44. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 15.71 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 one year low of $10.52 and a one year high of $15.19.
Blue Owl Capital (NYSE:OBDC – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $422.02 million. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 11.3%. The ex-dividend date was Tuesday, June 30th. Blue Owl Capital’s payout ratio is presently 177.14%.
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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