MQS Management LLC Acquires New Holdings in Blue Owl Capital Corporation $OBDC

MQS Management LLC bought a new stake in Blue Owl Capital Corporation (NYSE:OBDC) during the third quarter, Holdings Channel.com reports. The firm bought 70,437 shares of the company’s stock, valued at approximately $899,000. Blue Owl Capital makes up approximately 0.5% of MQS Management LLC’s holdings, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OBDC. State of New Jersey Common Pension Fund A bought a new position in shares of Blue Owl Capital in the 2nd quarter valued at $218,884,000. OMERS ADMINISTRATION Corp acquired a new position in Blue Owl Capital in the 2nd quarter worth about $15,212,000. Bank of America Corp DE increased its holdings in Blue Owl Capital by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 12,463,438 shares of the company’s stock worth $178,726,000 after purchasing an additional 517,294 shares in the last quarter. Muzinich & Co. Inc. raised its position in Blue Owl Capital by 34.1% in the third quarter. Muzinich & Co. Inc. now owns 1,951,061 shares of the company’s stock valued at $24,915,000 after purchasing an additional 495,628 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Blue Owl Capital by 38.8% during the second quarter. Corient Private Wealth LLC now owns 1,733,405 shares of the company’s stock valued at $24,957,000 after purchasing an additional 484,327 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Craig Packer acquired 83,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $11.75 per share, for a total transaction of $977,600.00. Following the completion of the transaction, the chief executive officer directly owned 41,600 shares in the company, valued at $488,800. This represents a -200.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Neena Reddy bought 7,890 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $13.06 per share, with a total value of $103,043.40. Following the purchase, the vice president directly owned 7,890 shares of the company’s stock, valued at $103,043.40. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $11.93 on Wednesday. The company has a market capitalization of $6.10 billion, a PE ratio of 8.46 and a beta of 0.67. The company has a 50 day simple moving average of $12.52 and a two-hundred day simple moving average of $13.06. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.72 and a current ratio of 0.72. Blue Owl Capital Corporation has a fifty-two week low of $10.70 and a fifty-two week high of $15.73.

Wall Street Analysts Forecast Growth

OBDC has been the subject of several recent research reports. Citizens Jmp lowered their price objective on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada reduced their target price on shares of Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Wells Fargo & Company cut their price target on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating on the stock in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.21.

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.