Closed End Fund Advisors Inc. Purchases Shares of 370,782 Blue Owl Capital Corporation $OBDC

Closed End Fund Advisors Inc. purchased a new stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 370,782 shares of the company’s stock, valued at approximately $4,609,000. Blue Owl Capital comprises about 2.7% of Closed End Fund Advisors Inc.’s investment portfolio, making the stock its 7th biggest position. Closed End Fund Advisors Inc. owned approximately 0.07% of Blue Owl Capital at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after purchasing an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Blue Owl Capital by 166.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after purchasing an additional 1,320 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Blue Owl Capital during the 3rd quarter valued at $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Blue Owl Capital during the 3rd quarter valued at $30,000. Finally, Assetmark Inc. acquired a new stake in Blue Owl Capital during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Stock Down 2.4%

OBDC stock opened at $11.03 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 15.75 and a beta of 0.62. The business’s fifty day moving average price is $11.21 and its two-hundred day moving average price is $11.84. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.19.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. On average, equities analysts anticipate that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.

Blue Owl Capital declared that its Board of Directors has approved a share buyback program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Blue Owl Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.31 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.2%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 211.43%.

Analyst Upgrades and Downgrades

OBDC has been the subject of several research reports. Wells Fargo & Company cut their price target on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Keefe, Bruyette & Woods lowered their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen cut Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada lowered their price objective on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.00.

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.