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

TT Capital Management LLC increased its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 52.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,930 shares of the company's stock after purchasing 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 biggest position. TT Capital Management LLC's holdings in Blue Owl Capital were worth $3,679,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OBDC. Cresset Asset Management LLC lifted its holdings in shares of Blue Owl Capital by 8,188.9% during the 4th quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock valued at $68,762,000 after purchasing an additional 4,385,987 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Blue Owl Capital in the 4th quarter valued at approximately $34,103,000. Raymond James Financial Inc. bought a new stake in Blue Owl Capital in the 4th quarter valued at approximately $28,434,000. Boston Partners lifted its stake in Blue Owl Capital by 76.6% in the 4th quarter. Boston Partners now owns 1,648,101 shares of the company's stock valued at $24,823,000 after acquiring an additional 714,940 shares in the last quarter. Finally, Enstar Group LTD bought a new stake in Blue Owl Capital in the 4th quarter valued at approximately $10,139,000. Institutional investors own 42.83% of the company's stock.

Insider Transactions at Blue Owl Capital

In other Blue Owl Capital news, Director Victor Woolridge acquired 6,915 shares of Blue Owl Capital stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired 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 $407,359.95. This represents a 32.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OBDC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group initiated coverage on Blue Owl Capital in a research note on Friday, April 11th. They set a "buy" rating and a $16.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 15th. Finally, B. Riley assumed coverage on Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Blue Owl Capital currently has an average rating of "Buy" and an average target price of $15.64.

Blue Owl Capital Stock Performance

OBDC stock traded down $0.18 during trading hours on Monday, hitting $14.29. 2,712,324 shares of the stock were exchanged, compared to its average volume of 2,616,532. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $7.30 billion, a P/E ratio of 9.22 and a beta of 0.73. The company has a 50-day simple moving average of $14.31 and a two-hundred day simple moving average of $14.68. Blue Owl Capital Corporation has a 12 month low of $12.11 and a 12 month high of $15.90.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results 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). The company had revenue of $464.65 million for the quarter, compared to analyst estimates of $457.88 million. Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. On average, analysts forecast 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 announced 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. This represents a dividend yield of 11.51%. The ex-dividend date of this dividend was Friday, May 30th. Blue Owl Capital's dividend payout ratio (DPR) is currently 95.48%.

About Blue Owl Capital

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.