Bayshore Capital Advisors LLC Sells 104,000 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Bayshore Capital Advisors cut its Blue Owl Capital stake by 22.2%, selling 104,000 shares in the third quarter; it ended the period with 363,505 shares valued at about $3.8 million.
• Blue Owl reported quarterly EPS of $0.33, slightly above estimates, and revenue of $392.1 million, also ahead of expectations. It declared a quarterly dividend of $0.31, equivalent to an indicated annual yield of 11.3%.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $12.17; the stock opened at $10.94 in the latest session cited.

Bayshore Capital Advisors LLC reduced its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 22.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 363,505 shares of the company's stock after selling 104,000 shares during the period. Blue Owl Capital accounts for approximately 2.0% of Bayshore Capital Advisors LLC's holdings, making the stock its 11th biggest position. Bayshore Capital Advisors LLC owned about 0.07% of Blue Owl Capital worth $3,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC boosted its stake in shares of Blue Owl Capital by 440.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company's stock valued at $29,000 after purchasing an additional 2,200 shares in the last quarter. Latitude Advisors LLC acquired a new stake in shares of Blue Owl Capital in the third quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its stake in Blue Owl Capital by 102.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,159 shares of the company's stock valued at $90,000 after buying an additional 4,134 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Blue Owl Capital in the first quarter worth $96,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in Blue Owl Capital during the second quarter valued at approximately $96,000. Institutional investors own 42.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on OBDC shares. Raymond James Financial set a $11.00 price objective on Blue Owl Capital in a research report on Thursday, October 22nd. Capital One Financial set a $13.00 price target on Blue Owl Capital in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Lucid Cap Mkts upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.17.

Blue Owl Capital Stock Up 1.2%

NYSE:OBDC opened at $10.94 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $11.12. The firm has a market cap of $5.39 billion, a P/E ratio of 16.08 and a beta of 0.66. Blue Owl Capital Corporation has a fifty-two week low of $9.81 and a fifty-two week high of $13.57.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%. The firm had revenue of $392.06 million for the quarter, compared to analysts' expectations of $383.82 million. Analysts predict that Blue Owl Capital Corporation will post 1.30 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.3%. The ex-dividend date is Thursday, December 31st. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.01. Blue Owl Capital's dividend payout ratio is presently 182.35%.

About Blue Owl Capital

Blue Owl Capital Corporation NYSE: OBDC is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.

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