Blue Owl Capital Corporation $OBDC Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 57.6% in the first quarter, HoldingsChannel.com reports. The firm owned 123,710 shares of the company’s stock after selling 167,991 shares during the period. NewEdge Advisors LLC’s holdings in Blue Owl Capital were worth $1,368,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of OBDC. IFP Advisors Inc boosted its stake in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after buying an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in 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 acquiring an additional 1,320 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Blue Owl Capital in the 3rd quarter valued at about $30,000. AG Campbell Advisory LLC acquired a new stake in Blue Owl Capital in the 4th quarter valued at about $36,000. Finally, Cornerstone Financial Management LLC bought a new position in shares of Blue Owl Capital during the 4th quarter valued at about $50,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Performance

Shares of Blue Owl Capital stock opened at $11.71 on Monday. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $14.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The stock has a market cap of $5.78 billion, a PE ratio of 20.92 and a beta of 0.62. The business has a fifty day simple moving average of $11.02 and a 200-day simple moving average of $11.23.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $396.00 million for the quarter, compared to analyst estimates of $394.23 million. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.During the same period in the previous year, the firm earned $0.40 earnings per share. On average, sell-side analysts anticipate that Blue Owl Capital Corporation will post 1.29 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Capital’s payout ratio is 221.43%.

Analyst Upgrades and Downgrades

OBDC has been the topic of several recent research reports. Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Truist Financial cut their price objective on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Wells Fargo & Company reduced their price objective on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Lucid Cap Mkts upgraded Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Finally, Capital One Financial set a $13.00 target price on Blue Owl Capital in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Blue Owl Capital presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

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.