Rivernorth Capital Management LLC Has $15.78 Million Stock Position in Blue Owl Capital Corporation $OBDC

Rivernorth Capital Management LLC boosted its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 181.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,426,822 shares of the company’s stock after purchasing an additional 920,180 shares during the quarter. Blue Owl Capital accounts for approximately 0.8% of Rivernorth Capital Management LLC’s holdings, making the stock its 26th biggest position. Rivernorth Capital Management LLC’s holdings in Blue Owl Capital were worth $15,781,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OBDC. Next Capital Management LLC increased its stake in Blue Owl Capital by 407.0% during the fourth quarter. Next Capital Management LLC now owns 199,584 shares of the company’s stock valued at $2,488,000 after acquiring an additional 160,221 shares during the period. Tectonic Advisors LLC lifted its position in shares of Blue Owl Capital by 13.0% in the 4th quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company’s stock worth $12,975,000 after acquiring an additional 119,798 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Blue Owl Capital by 11.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock worth $47,665,000 after purchasing an additional 387,347 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Blue Owl Capital by 162.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 241,511 shares of the company’s stock valued at $3,002,000 after purchasing an additional 149,609 shares during the period. Finally, Prairiewood Capital LLC increased its position in shares of Blue Owl Capital by 26.1% during the fourth quarter. Prairiewood Capital LLC now owns 471,602 shares of the company’s stock valued at $5,862,000 after purchasing an additional 97,481 shares during the period. 42.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

OBDC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday. Capital One Financial set a $13.00 price objective on shares of Blue Owl Capital in a report on Friday. Truist Financial decreased their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Wells Fargo & Company lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Blue Owl Capital Price Performance

NYSE:OBDC opened at $11.04 on Wednesday. The firm has a market cap of $5.48 billion, a PE ratio of 15.76 and a beta of 0.62. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $14.65. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $11.35.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). The business had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. On average, equities analysts anticipate that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 11.2%. The ex-dividend date was Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio is presently 177.14%.

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.