Avidian Wealth Enterprises LLC Invests $773,000 in Blue Owl Capital Corporation $OBDC

Key Points

• Avidian Wealth Enterprises LLC has invested approximately $773,000 in Blue Owl Capital Corporation, acquiring 53,918 shares during the second quarter.
• Blue Owl Capital recently increased its quarterly dividend to $0.02 per share, marking a boost from the previous dividend of $0.01, with a current dividend yield of 0.6%.
• Analysts maintain a generally positive outlook on Blue Owl Capital, with ratings ranging from Strong Buy to Buy, and a consensus price target of $15.21.

Avidian Wealth Enterprises LLC purchased a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 53,918 shares of the company's stock, valued at approximately $773,000.

Other hedge funds have also made changes to their positions in the company. Hamilton Lane Advisors LLC acquired a new position in Blue Owl Capital in the second quarter valued at $48,845,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Blue Owl Capital by 85.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,055 shares of the company's stock valued at $15,042,000 after buying an additional 474,100 shares during the period. Graypoint LLC grew its holdings in Blue Owl Capital by 49.4% in the 2nd quarter. Graypoint LLC now owns 590,048 shares of the company's stock valued at $8,461,000 after buying an additional 194,999 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Blue Owl Capital during the 2nd quarter valued at about $734,619,000. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Blue Owl Capital by 217.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 43,069 shares of the company's stock worth $631,000 after acquiring an additional 29,521 shares during the period. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $12.97 on Wednesday. The firm has a 50-day moving average of $13.56 and a two-hundred day moving average of $14.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $6.63 billion, a P/E ratio of 8.59 and a beta of 0.75. Blue Owl Capital Corporation has a 1-year low of $12.04 and a 1-year high of $15.73.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $480.42 million. On average, research analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.6%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. Blue Owl Capital's dividend payout ratio (DPR) is presently 98.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Blue Owl Capital has an average rating of "Buy" and a consensus price target of $15.21.

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.

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