Blue Owl Capital (NYSE:OBDC) Director Acquires $11,210.00 in Stock

Key Points

• Director buying: Blue Owl Capital Director Eric Kaye bought 1,000 shares at $11.21 each, a $11,210 transaction that increased his stake by 4.96% to 21,144 shares.
• Dividend and buyback: The company declared a quarterly dividend of $0.31 per share, implying an 11.1% annualized yield, and also has a $300 million stock repurchase authorization in place.
• Recent results and analyst view: Blue Owl Capital recently missed earnings and revenue estimates, but analysts still rate the stock a Moderate Buy with an average target price of $13.57.

Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) Director Eric Kaye acquired 1,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $11.21 per share, with a total value of $11,210.00. Following the transaction, the director owned 21,144 shares in the company, valued at approximately $237,024.24. The trade was a 4.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Blue Owl Capital Price Performance

OBDC traded up $0.05 during trading on Tuesday, hitting $11.17. The company's stock had a trading volume of 3,250,402 shares, compared to its average volume of 5,742,519. The firm's 50 day moving average price is $11.27 and its two-hundred day moving average price is $12.03. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 15.95 and a beta of 0.64.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released 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 firm had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. Sell-side analysts forecast that Blue Owl Capital Corporation will post 1.31 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is 211.43%.

Blue Owl Capital announced that its board has approved a stock buyback plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Blue Owl Capital

A number of institutional investors have recently made changes to their positions in OBDC. Strs Ohio grew its stake in shares of Blue Owl Capital by 411.4% during the first quarter. Strs Ohio now owns 10,941,976 shares of the company's stock worth $121,018,000 after purchasing an additional 8,802,373 shares during the period. Lalia Capital LLC acquired a new stake in shares of Blue Owl Capital during the fourth quarter worth $37,991,000. UBS Group AG grew its stake in shares of Blue Owl Capital by 40.6% during the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company's stock worth $106,011,000 after purchasing an additional 2,463,080 shares during the period. Private Management Group Inc. acquired a new position in Blue Owl Capital in the fourth quarter valued at about $27,012,000. Finally, Wells Fargo & Company MN grew its stake in Blue Owl Capital by 142.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,440,960 shares of the company's stock valued at $42,771,000 after acquiring an additional 2,022,806 shares during the period. 42.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OBDC has been the subject of several research reports. Royal Bank Of Canada lowered their target price on Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company 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. Keefe, Bruyette & Woods lowered 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. Wells Fargo & Company decreased 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. Finally, Truist Financial decreased their price objective on Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.57.

About Blue Owl Capital

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.

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