Blue Owl Capital Corporation $OBDC Position Lifted by AlphaCore Capital LLC

Key Points

• AlphaCore Capital increased its OBDC stake by 52.6% in the third quarter, adding 482,656 shares to hold 1.4 million shares valued at about $15.1 million. Institutional investors collectively own 42.83% of the stock.
• Blue Owl reported quarterly EPS of $0.33, slightly above the $0.32 consensus, and revenue of $392.06 million, also ahead of estimates.
• The company declared a quarterly dividend of $0.31 per share, equal to an annualized yield of 11.1%. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $12.17.

AlphaCore Capital LLC grew its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 52.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,400,280 shares of the company's stock after acquiring an additional 482,656 shares during the period. AlphaCore Capital LLC owned about 0.28% of Blue Owl Capital worth $15,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of OBDC. Private Management Group Inc. grew its holdings in Blue Owl Capital by 3.0% during the third quarter. Private Management Group Inc. now owns 4,177,582 shares of the company's stock valued at $43,823,000 after purchasing an additional 120,835 shares during the period. QTR Family Wealth LLC bought a new stake in Blue Owl Capital during the 3rd quarter worth approximately $144,000. SMH Capital Advisors Inc. purchased a new position in Blue Owl Capital during the third quarter valued at approximately $210,000. Vise Technologies Inc. purchased a new position in Blue Owl Capital during the third quarter valued at approximately $227,000. Finally, Left Brain Wealth Management LLC purchased a new position in Blue Owl Capital during the third quarter valued at approximately $675,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Blue Owl Capital Stock Performance

OBDC opened at $11.14 on Tuesday. 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 stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 16.39 and a beta of 0.66. The company has a fifty day moving average of $10.64 and a 200 day moving average of $11.11. 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 released its quarterly earnings data on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $392.06 million during the quarter, compared to the consensus estimate of $383.82 million. Blue Owl Capital had a net margin of 20.79% and a return on equity of 9.34%. As a group, sell-side analysts forecast that Blue Owl Capital Corporation will post 1.30 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.24 annualized dividend and a yield of 11.1%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. Blue Owl Capital's dividend payout ratio (DPR) is 182.35%.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation NYSE: OBDC is a business development company that provides financing to middle-market businesses. It invests primarily in privately held U.S. companies, with a focus on lending and other credit investments.

The company's portfolio includes senior secured loans, unitranche and second-lien loans, and, to a lesser extent, equity investments. Its financing can support companies' growth, acquisitions, recapitalizations, and other business needs.

Originally established as Owl Rock Capital Corporation, the company is externally managed by Blue Owl Credit Advisors, an affiliate of alternative asset manager Blue Owl Capital.

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