Blue Owl Capital Corporation (NYSE:OBDC) Stake Boosted by Melia Wealth LLC

Key Points

• Melia Wealth LLC increased its investment in Blue Owl Capital Corporation by 2.8%, now holding approximately 7.6% of its total assets in the company, making it its fifth largest position.
• Blue Owl Capital recently reported a quarterly earnings miss, with earnings per share at $0.39, falling short of analysts' expectations of $0.43, but revenue of $464.65 million exceeded forecasts.
• The firm announced a dividend of $0.01 per share, down from previous levels, resulting in a yield of 11.51% and a payout ratio of 95.48%.

Melia Wealth LLC raised its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,001,704 shares of the company's stock after buying an additional 27,540 shares during the period. Blue Owl Capital comprises about 7.6% of Melia Wealth LLC's investment portfolio, making the stock its 5th biggest holding. Melia Wealth LLC owned approximately 0.20% of Blue Owl Capital worth $14,685,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OBDC. Golden State Equity Partners lifted its position in shares of Blue Owl Capital by 1.7% in the 1st quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock worth $670,000 after purchasing an additional 742 shares during the period. BlueStem Wealth Partners LLC increased its stake in shares of Blue Owl Capital by 2.5% in the 1st quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock worth $480,000 after acquiring an additional 784 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Blue Owl Capital by 6.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock worth $204,000 after acquiring an additional 798 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Blue Owl Capital by 2.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock worth $548,000 after acquiring an additional 996 shares in the last quarter. Finally, Essex Financial Services Inc. increased its stake in Blue Owl Capital by 3.3% during the 1st quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock valued at $459,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Blue Owl Capital Stock Performance

Shares of OBDC traded down $0.03 on Thursday, reaching $14.39. The company's stock had a trading volume of 956,698 shares, compared to its average volume of 3,261,316. 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 stock has a market capitalization of $7.35 billion, a P/E ratio of 9.28 and a beta of 0.72. The stock's 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $14.59. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-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 analysts' consensus estimates of $0.43 by ($0.04). The business had revenue of $464.65 million during 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%. Research 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 firm also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a $0.01 dividend. This represents a dividend yield of 11.51%. The ex-dividend date was Friday, May 30th. Blue Owl Capital's payout ratio is 95.48%.

Insiders Place Their Bets

In other news, Director Victor Woolridge purchased 6,915 shares of the stock in a transaction on Tuesday, May 27th. The shares were acquired at an average price of $14.45 per share, with a total value of $99,921.75. Following the completion of the acquisition, the director directly owned 28,191 shares of the company's stock, valued at $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OBDC shares. 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 started coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, Jefferies Financial Group started coverage on shares of Blue Owl Capital in a research note on Friday, April 11th. They set a "buy" rating and a $16.00 price objective for the company. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Blue Owl Capital presently has a consensus rating of "Buy" and an average price target of $15.64.

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.