Garner Asset Management Corp Makes New $1.27 Million Investment in Blue Owl Capital Corporation (NYSE:OBDC)

Garner Asset Management Corp purchased a new stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 86,771 shares of the company's stock, valued at approximately $1,272,000.

Other hedge funds have also recently made changes to their positions in the company. Anchor Investment Management LLC boosted its stake in shares of Blue Owl Capital by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock valued at $45,000 after purchasing an additional 1,500 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Blue Owl Capital during the fourth quarter valued at about $48,000. Lazard Asset Management LLC acquired a new stake in shares of Blue Owl Capital during the fourth quarter valued at about $49,000. Roxbury Financial LLC acquired a new stake in shares of Blue Owl Capital during the first quarter valued at about $50,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Blue Owl Capital during the first quarter valued at about $63,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Stock Down 0.6%

Shares of NYSE:OBDC traded down $0.09 during mid-day trading on Thursday, hitting $14.87. 2,924,367 shares of the company traded hands, compared to its average volume of 3,301,028. The stock has a market cap of $7.60 billion, a P/E ratio of 9.59 and a beta of 0.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.86. The stock has a 50-day moving average price of $14.59 and a two-hundred day moving average price of $14.59.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. The business had revenue of $464.65 million during the quarter, compared to analysts' expectations of $457.88 million. On average, equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital's payout ratio is presently 95.48%.

Insider Activity

In related news, Director Victor Woolridge acquired 6,915 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the purchase, the director owned 28,191 shares in the company, valued at $407,359.95. This trade represents a 32.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OBDC. Keefe, Bruyette & Woods lowered their price objective on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada restated an "outperform" rating and set a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. Jefferies Financial Group began coverage on Blue Owl Capital in a research report on Friday, April 11th. They set a "buy" rating and a $16.00 price objective for the company. B. Riley initiated coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $15.64.

About Blue Owl Capital

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.