Allen Investment Management LLC Makes New Investment in Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• Allen Investment Management LLC acquired a new position in Blue Owl Capital Corporation, purchasing 209,140 shares valued at approximately $3,066,000 in the 1st quarter.
• Insider activity included Director Victor Woolridge increasing their stake by 32.50% with the acquisition of 6,915 shares at an average cost of $14.45 per share.
• Analysts have mixed ratings for Blue Owl Capital, with a consensus rating of "Buy" and an average target price of $15.64, despite a recent earnings report that showed the company missed consensus EPS estimates by $0.04.

Allen Investment Management LLC bought a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 209,140 shares of the company's stock, valued at approximately $3,066,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlueStem Wealth Partners LLC lifted its stake in Blue Owl Capital by 2.5% during the first quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock worth $480,000 after purchasing an additional 784 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Blue Owl Capital by 311.3% in the 1st quarter. HB Wealth Management LLC now owns 1,131,920 shares of the company's stock valued at $16,594,000 after acquiring an additional 856,735 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of Blue Owl Capital in the 1st quarter valued at $8,084,000. Cetera Investment Advisers lifted its stake in shares of Blue Owl Capital by 62.9% in the 1st quarter. Cetera Investment Advisers now owns 210,703 shares of the company's stock valued at $3,089,000 after acquiring an additional 81,353 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Blue Owl Capital by 2.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock valued at $548,000 after acquiring an additional 996 shares during the last quarter. Institutional investors and hedge funds own 42.83% of the company's stock.

Insider Transactions at Blue Owl Capital

In related news, Director Victor Woolridge bought 6,915 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the acquisition, the director owned 28,191 shares of the company's stock, valued at $407,359.95. This trade represents a 32.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company's stock.

Blue Owl Capital Trading Down 0.2%

Shares of NYSE:OBDC traded down $0.04 during midday trading on Wednesday, hitting $14.52. 943,388 shares of the stock traded hands, compared to its average volume of 3,269,029. The stock has a market capitalization of $7.42 billion, a PE ratio of 9.38 and a beta of 0.72. The business's 50 day moving average is $14.60 and its two-hundred day moving average is $14.59. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital Corporation has a one year low of $12.11 and a one year high of $15.86.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. The business had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. As a group, 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 declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.01 per share. This represents a dividend yield of 11.51%. The ex-dividend date was Friday, May 30th. Blue Owl Capital's payout ratio is 95.48%.

Analyst Ratings Changes

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

Blue Owl Capital 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.