Baillie Gifford & Co. Takes Position in Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• Baillie Gifford & Co. has taken a new position in Blue Owl Capital Corporation with an investment of approximately $8.08 million, acquiring 551,430 shares during Q1.
• Oregon Public Employees Retirement Fund significantly increased its stake by 222.0%, now owning over 16 million shares valued at $236 million.
• Wall Street analysts remain optimistic, with a consensus rating of "Buy" on Blue Owl Capital, despite a recent price target range adjustment among firms like Wells Fargo and Jefferies.

Baillie Gifford & Co. acquired a new position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 551,430 shares of the company's stock, valued at approximately $8,084,000. Baillie Gifford & Co. owned 0.11% of Blue Owl Capital at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its holdings in shares of Blue Owl Capital by 222.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock valued at $236,007,000 after acquiring an additional 11,098,695 shares during the period. Royal Bank of Canada boosted its holdings in shares of 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 valued at $111,696,000 after acquiring an additional 620,521 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Blue Owl Capital by 5.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock valued at $72,361,000 after acquiring an additional 236,467 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Blue Owl Capital by 8,188.9% during the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock valued at $68,762,000 after acquiring an additional 4,385,987 shares during the period. Finally, Brown University boosted its holdings in shares of Blue Owl Capital by 17.9% during the first quarter. Brown University now owns 4,348,863 shares of the company's stock valued at $63,754,000 after acquiring an additional 660,136 shares during the period. Institutional investors and hedge funds own 42.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OBDC. Royal Bank Of Canada restated an "outperform" rating and set a $16.00 price objective on shares of Blue Owl Capital in a research note on Thursday, May 15th. B. Riley initiated coverage on shares of Blue Owl Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group initiated coverage on shares of Blue Owl Capital in a research report on Friday, April 11th. They issued a "buy" rating and a $16.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Three 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. According to data from MarketBeat, Blue Owl Capital presently has an average rating of "Buy" and a consensus price target of $15.64.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Victor Woolridge bought 6,915 shares of the stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $14.45 per share, with a total value of $99,921.75. Following the purchase, the director directly owned 28,191 shares in the company, valued at $407,359.95. The trade was a 32.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

Blue Owl Capital Trading Down 0.0%

NYSE OBDC traded down $0.01 on Wednesday, hitting $14.55. 444,984 shares of the company were exchanged, compared to its average volume of 3,265,487. The company's 50 day moving average price is $14.60 and its 200-day moving average price is $14.59. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $7.43 billion, a P/E ratio of 9.41 and a beta of 0.72. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.86.

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 (EPS) 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 company had revenue of $464.65 million for the quarter, compared to analyst estimates of $457.88 million. Analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

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

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.