612,351 Shares in Blue Owl Capital Corporation $OBDC Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in Blue Owl Capital Corporation (NYSE:OBDC) during the third quarter, Holdings Channel reports. The institutional investor bought 612,351 shares of the company’s stock, valued at approximately $8,046,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of Blue Owl Capital during the 3rd quarter worth approximately $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital during the 3rd quarter worth $30,000. Assetmark Inc. bought a new stake in Blue Owl Capital in the third quarter valued at $38,000. Root Financial Partners LLC acquired a new position in shares of Blue Owl Capital during the third quarter valued at $47,000. Finally, Allworth Financial LP boosted its holdings in shares of Blue Owl Capital by 24,533.3% during the second quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock valued at $53,000 after acquiring an additional 3,680 shares during the period. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OBDC shares. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Keefe, Bruyette & Woods cut their price target on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada reduced their price objective on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Truist Financial cut their target price on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.06.

Blue Owl Capital Price Performance

NYSE OBDC opened at $10.95 on Friday. Blue Owl Capital Corporation has a 12 month low of $10.70 and a 12 month high of $15.36. The firm has a market capitalization of $5.47 billion, a PE ratio of 8.83 and a beta of 0.67. The company’s 50 day simple moving average is $11.87 and its 200 day simple moving average is $12.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%.The firm had revenue of $439.50 million during the quarter, compared to analyst estimates of $454.38 million. As a group, equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital’s payout ratio is presently 119.35%.

Blue Owl Capital declared that its board has authorized a stock buyback plan on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.