Blue Owl Capital Corporation (NYSE:OBDC) Position Trimmed by LSV Asset Management

Key Points

• LSV Asset Management has reduced its stake in Blue Owl Capital Corporation by 10.3%, now owning approximately 0.82% of the company, as disclosed in its SEC filing.
• Blue Owl Capital recently reported $0.39 earnings per share, missing analyst estimates by $0.04, despite revenue exceeding expectations at $464.65 million.
• The company has cut its dividend to $0.01 per share, resulting in a remarkably high yield of 1,151.0% while maintaining a dividend payout ratio of 95.48%.

LSV Asset Management decreased its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,179,147 shares of the company's stock after selling 480,634 shares during the period. LSV Asset Management owned about 0.82% of Blue Owl Capital worth $61,266,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OBDC. Anchor Investment Management LLC lifted its holdings in Blue Owl Capital by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock worth $45,000 after purchasing an additional 1,500 shares during the period. Lazard Asset Management LLC acquired a new stake in Blue Owl Capital in the fourth quarter worth about $49,000. Roxbury Financial LLC acquired a new stake in Blue Owl Capital in the first quarter worth about $50,000. Versant Capital Management Inc acquired a new stake in Blue Owl Capital in the first quarter worth about $63,000. Finally, Bayforest Capital Ltd acquired a new stake in Blue Owl Capital in the first quarter worth about $73,000. Institutional investors own 42.83% of the company's stock.

Blue Owl Capital Stock Down 1.3%

Shares of OBDC stock opened at $14.09 on Friday. The stock has a market cap of $7.20 billion, a P/E ratio of 9.09 and a beta of 0.74. Blue Owl Capital Corporation has a one year low of $12.11 and a one year high of $15.73. The stock has a fifty day moving average price of $14.59 and a 200 day moving average price of $14.57. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.13 and a quick ratio of 1.13.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued 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 company had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. Analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.01 dividend. This represents a yield of 1,151.0%. The ex-dividend date was Friday, May 30th. Blue Owl Capital's dividend payout ratio (DPR) is presently 95.48%.

Insider Buying and Selling

In related news, Director Victor Woolridge bought 6,915 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the transaction, the director owned 28,191 shares of the company's stock, valued at $407,359.95. This represents a 32.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OBDC shares. B. Riley started coverage on shares of Blue Owl Capital in a report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target for the company. Royal Bank Of Canada restated an "outperform" rating and set a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 15th. Keefe, Bruyette & Woods cut their price objective on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group assumed coverage on Blue Owl Capital in a report on Friday, April 11th. They issued a "buy" rating and a $16.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Three equities 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $15.64.

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.

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