Blue Owl Capital Corporation $OBDC Shares Sold by MAI Capital Management

MAI Capital Management decreased its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 668,432 shares of the company’s stock after selling 64,435 shares during the quarter. MAI Capital Management owned approximately 0.13% of Blue Owl Capital worth $8,536,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OBDC. Border to Coast Pensions Partnership Ltd increased its holdings in shares of Blue Owl Capital by 19.2% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,550,000 shares of the company’s stock valued at $19,793,000 after purchasing an additional 250,000 shares in the last quarter. Ares Management LLC grew its position in Blue Owl Capital by 6.5% during the second quarter. Ares Management LLC now owns 2,487,964 shares of the company’s stock valued at $35,677,000 after buying an additional 151,142 shares during the period. Arkadios Wealth Advisors grew its position in Blue Owl Capital by 144.9% during the third quarter. Arkadios Wealth Advisors now owns 389,245 shares of the company’s stock valued at $4,971,000 after buying an additional 230,295 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Blue Owl Capital in the third quarter valued at $1,671,000. Finally, Corient Private Wealth LLC raised its position in shares of Blue Owl Capital by 38.8% in the second quarter. Corient Private Wealth LLC now owns 1,733,405 shares of the company’s stock worth $24,957,000 after acquiring an additional 484,327 shares during the period. 42.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company dropped their price objective on 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. Royal Bank Of Canada cut 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. Truist Financial reduced their target price on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday. Finally, Citizens Jmp dropped their price target on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.06.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $11.75 on Friday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 9.48 and a beta of 0.67. The business has a 50 day simple moving average of $12.15 and a two-hundred day simple moving average of $12.85. Blue Owl Capital Corporation has a 12 month low of $10.70 and a 12 month high of $15.58. 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, topping 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 for the quarter, compared to analyst estimates of $454.38 million. As a group, analysts predict that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 12.6%. Blue Owl Capital’s dividend payout ratio is presently 119.35%.

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

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.