TT Capital Management LLC Acquires 86,710 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

TT Capital Management LLC grew its holdings in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 52.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,930 shares of the company's stock after buying an additional 86,710 shares during the period. Blue Owl Capital makes up 3.1% of TT Capital Management LLC's portfolio, making the stock its 8th largest holding. TT Capital Management LLC's holdings in Blue Owl Capital were worth $3,679,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OBDC. Tower Research Capital LLC TRC boosted its position in shares of Blue Owl Capital by 9.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock valued at $197,000 after buying an additional 1,083 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Blue Owl Capital by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,436,706 shares of the company's stock worth $36,843,000 after purchasing an additional 174,759 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Blue Owl Capital by 4.3% in the 1st quarter. Sound Income Strategies LLC now owns 3,153,298 shares of the company's stock valued at $46,227,000 after buying an additional 129,038 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Blue Owl Capital by 17.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,065,947 shares of the company's stock valued at $16,117,000 after acquiring an additional 159,946 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Blue Owl Capital by 5.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock worth $72,361,000 after purchasing an additional 236,467 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Victor Woolridge bought 6,915 shares of Blue Owl Capital stock in a transaction on Tuesday, May 27th. The shares were bought at an average cost of $14.45 per share, with a total value of $99,921.75. Following the completion of the purchase, the director now directly owns 28,191 shares of the company's stock, valued at approximately $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company's stock.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock traded up $0.09 on Wednesday, hitting $14.45. 2,186,107 shares of the company were exchanged, compared to its average volume of 2,618,999. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $14.34 and a 200 day moving average price of $14.67. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 9.32 and a beta of 0.73. Blue Owl Capital Corporation has a 1-year low of $12.11 and a 1-year high of $15.87.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). The company had revenue of $464.65 million for the quarter, compared to analysts' expectations of $457.88 million. Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. As a group, sell-side 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 business 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. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital's dividend payout ratio is presently 95.48%.

Analysts Set New Price Targets

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

Blue Owl Capital Company 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.