Melia Wealth LLC Cuts Stock Holdings in Blue Owl Capital Corporation $OBDC

Melia Wealth LLC lowered its holdings in Blue Owl Capital Corporation (NYSE:OBDC) by 35.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778,167 shares of the company’s stock after selling 435,314 shares during the quarter. Blue Owl Capital accounts for about 4.9% of Melia Wealth LLC’s investment portfolio, making the stock its 11th biggest holding. Melia Wealth LLC’s holdings in Blue Owl Capital were worth $8,459,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OBDC. IFP Advisors Inc raised its holdings 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 valued at $27,000 after purchasing an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in 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 worth $27,000 after acquiring an additional 1,320 shares during the period. FNY Investment Advisers LLC boosted its stake in shares of Blue Owl Capital by 440.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company’s stock worth $29,000 after acquiring an additional 2,200 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Blue Owl Capital during the 3rd quarter worth approximately $30,000. Finally, AG Campbell Advisory LLC bought a new position in shares of Blue Owl Capital in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $11.29 on Friday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 20.15 and a beta of 0.62. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $11.08 and a 200-day moving average price of $11.21. Blue Owl Capital Corporation has a one year low of $10.52 and a one year high of $14.44.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $396.00 million for the quarter, compared to analyst estimates of $394.23 million. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.During the same quarter in the prior year, the firm posted $0.40 EPS. Equities analysts expect that Blue Owl Capital Corporation will post 1.29 EPS for the current year.

Blue Owl Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.24 annualized dividend and a dividend yield of 11.0%. Blue Owl Capital’s dividend payout ratio is currently 221.43%.

Wall Street Analyst Weigh In

OBDC has been the topic of several recent analyst reports. Wall Street Zen raised Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Lucid Cap Mkts upgraded shares of Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Wells Fargo & Company decreased their price target 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. Truist Financial cut their price target 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. Finally, Capital One Financial set a $13.00 price objective on Blue Owl Capital in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

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.