Magnetar Financial LLC Takes Position in Blue Owl Capital Corporation $OBDC

Key Points

• Magnetar Financial LLC has bought 50,938 shares of Blue Owl Capital Corporation, valued at approximately $747,000, highlighting continued institutional interest in the company.
• Blue Owl Capital reported a quarterly earnings per share (EPS) of $0.40, exceeding analysts' expectations and reflecting strong revenue performance of $485.84 million for the period.
• The company announced a quarterly dividend increase to $0.02 per share, effective September 15th, raising its annualized dividend to $0.08 and demonstrating a commitment to returning capital to shareholders.

Magnetar Financial LLC bought a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 50,938 shares of the company's stock, valued at approximately $747,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OBDC. Oregon Public Employees Retirement Fund raised its position in Blue Owl Capital by 222.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock worth $236,007,000 after buying an additional 11,098,695 shares during the last quarter. Cresset Asset Management LLC grew its holdings in Blue Owl Capital by 85.8% during the first quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company's stock worth $123,979,000 after acquiring an additional 3,809,000 shares during the period. Royal Bank of Canada boosted its position in Blue Owl Capital by 9.2% during the fourth quarter. Royal Bank of Canada now owns 7,387,300 shares of the company's stock worth $111,696,000 after purchasing an additional 620,521 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Blue Owl Capital by 8.4% during the first quarter. Ameriprise Financial Inc. now owns 5,190,522 shares of the company's stock worth $76,083,000 after purchasing an additional 403,784 shares in the last quarter. Finally, Brown University boosted its position in Blue Owl Capital by 17.9% during the first quarter. Brown University now owns 4,348,863 shares of the company's stock worth $63,754,000 after purchasing an additional 660,136 shares in the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC traded down $0.05 on Friday, hitting $14.32. The company had a trading volume of 1,996,378 shares, compared to its average volume of 2,402,899. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20. Blue Owl Capital Corporation has a 52-week low of $12.11 and a 52-week high of $15.73. The business has a 50 day moving average of $14.42 and a 200 day moving average of $14.42. The company has a market cap of $7.32 billion, a PE ratio of 9.48 and a beta of 0.76.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%.The business had revenue of $485.84 million for the quarter, compared to the consensus estimate of $480.42 million. As a group, equities analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.02 dividend. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 29th. Blue Owl Capital's dividend payout ratio is 98.01%.

Wall Street Analysts Forecast Growth

OBDC has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of Blue Owl Capital in a research report on Thursday, May 15th. LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Finally, B. Riley assumed coverage on shares of Blue Owl Capital in a report on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Blue Owl Capital has a consensus rating of "Buy" and an average target price of $15.42.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.