Eric Kaye Acquires 1,000 Shares of Blue Owl Capital (NYSE:OBDC) Stock

Blue Owl Capital Corporation (NYSE:OBDC) Director Eric Kaye bought 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $11.21 per share, with a total value of $11,210.00. Following the completion of the purchase, the director owned 21,144 shares of the company’s stock, valued at approximately $237,024.24. This trade represents a 4.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Blue Owl Capital Trading Up 0.4%

NYSE:OBDC traded up $0.05 on Tuesday, reaching $11.17. The company’s stock had a trading volume of 3,250,402 shares, compared to its average volume of 5,742,519. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $5.54 billion, a PE ratio of 15.95 and a beta of 0.64. The business’s 50-day moving average price is $11.27 and its two-hundred day moving average price is $12.03.

Blue Owl Capital (NYSE:OBDC) last posted its 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 business had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. Equities research analysts anticipate that Blue Owl Capital Corporation will post 1.31 earnings per share for the current fiscal year.

Blue Owl Capital declared that its board has initiated a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Blue Owl Capital Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital’s payout ratio is presently 211.43%.

Institutional Trading of Blue Owl Capital

A number of institutional investors have recently modified their holdings of OBDC. Van ECK Associates Corp raised its holdings in Blue Owl Capital by 6.0% during the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock worth $170,663,000 after acquiring an additional 757,203 shares in the last quarter. Bank of America Corp DE raised its holdings in Blue Owl Capital by 6.5% during the third quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock worth $169,527,000 after acquiring an additional 811,973 shares in the last quarter. Strs Ohio raised its holdings in Blue Owl Capital by 411.4% during the first quarter. Strs Ohio now owns 10,941,976 shares of the company’s stock worth $121,018,000 after acquiring an additional 8,802,373 shares in the last quarter. UBS Group AG raised its holdings in Blue Owl Capital by 40.6% during the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after acquiring an additional 2,463,080 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Blue Owl Capital by 13.7% during the third quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock worth $69,005,000 after acquiring an additional 659,025 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OBDC has been the topic of a number of research reports. Royal Bank Of Canada cut their price target on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Truist Financial cut their price target on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Wells Fargo & Company cut their price target on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Keefe, Bruyette & Woods cut their price target 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Blue Owl Capital has an average rating of “Moderate Buy” and a consensus price target of $13.57.

Blue Owl Capital Company 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.