Private Management Group Inc. Buys Shares of 2,173,119 Blue Owl Capital Corporation $OBDC

Private Management Group Inc. bought a new stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,173,119 shares of the company’s stock, valued at approximately $27,012,000.

Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of Blue Owl Capital by 79.6% in 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 period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Blue Owl Capital by 166.0% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Blue Owl Capital in the 3rd quarter valued at about $30,000. Assetmark Inc. acquired a new position in shares of Blue Owl Capital in the 3rd quarter valued at about $38,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Blue Owl Capital in the 4th quarter valued at about $44,000. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Up 0.5%

OBDC stock opened at $11.18 on Friday. The stock’s 50 day simple moving average is $11.22 and its 200 day simple moving average is $11.81. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week 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 company has a market cap of $5.55 billion, a P/E ratio of 15.96 and a beta of 0.62.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $422.02 million. On average, research analysts expect that Blue Owl Capital Corporation will post 1.27 earnings per share for the current fiscal year.

Blue Owl Capital declared that its board has authorized a share repurchase program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Blue Owl Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.31 per share. 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 dividend payout ratio is 211.43%.

Wall Street Analyst Weigh In

OBDC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Truist Financial dropped their price objective on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Royal Bank Of Canada dropped their price objective on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Keefe, Bruyette & Woods dropped 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 note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

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.