Bayshore Capital Advisors LLC Purchases Shares of 358,000 Blue Owl Capital Corporation $OBDC

Key Points

• Bayshore Capital Advisors opened a new position in Blue Owl Capital Corporation, buying 358,000 shares worth about $4.45 million in the fourth quarter. The stake makes OBDC its 7th largest holding and represents about 0.07% of the company.
• Several other hedge funds also boosted or initiated positions, and 42.83% of Blue Owl Capital is now owned by institutional investors and hedge funds.
• Analyst sentiment is mixed but still leans positive: the consensus rating is Moderate Buy with a $13.33 target price, even as some firms cut targets and one lowered the stock to sell. Blue Owl also recently reported weaker-than-expected earnings and reduced its quarterly dividend to $0.31 per share.

Bayshore Capital Advisors LLC acquired a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 358,000 shares of the company's stock, valued at approximately $4,450,000. Blue Owl Capital accounts for approximately 2.2% of Bayshore Capital Advisors LLC's investment portfolio, making the stock its 7th largest position. Bayshore Capital Advisors LLC owned approximately 0.07% of Blue Owl Capital at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Blue Owl Capital by 15.1% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 87,868 shares of the company's stock valued at $1,092,000 after purchasing an additional 11,553 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Blue Owl Capital by 23.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 44,134 shares of the company's stock valued at $549,000 after purchasing an additional 8,496 shares during the period. NewEdge Wealth LLC increased its holdings in shares of Blue Owl Capital by 10.0% in the fourth quarter. NewEdge Wealth LLC now owns 417,565 shares of the company's stock valued at $5,190,000 after purchasing an additional 37,957 shares during the period. Grange Capital LLC acquired a new position in shares of Blue Owl Capital in the fourth quarter valued at about $1,203,000. Finally, GRIMES & Co WEALTH MANAGEMENT LLC acquired a new position in shares of Blue Owl Capital in the fourth quarter valued at about $170,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Truist Financial cut their price objective on Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Keefe, Bruyette & Woods dropped their target price on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, April 16th. Wall Street Zen lowered Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Zacks Research raised Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.33.

Blue Owl Capital Stock Up 0.1%

Shares of OBDC opened at $11.18 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19. The stock's 50 day moving average is $11.26 and its two-hundred day moving average is $12.00. The firm has a market cap of $5.55 billion, a P/E ratio of 15.97 and a beta of 0.64.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The business had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. Analysts predict that Blue Owl Capital Corporation will post 1.29 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is presently 211.43%.

Blue Owl Capital declared that its board has authorized a stock repurchase plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

About Blue Owl Capital

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

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