Blue Owl Capital Corporation $OBDC Position Lifted by Private Management Group Inc.

Key Points

• Private Management Group increased its OBDC stake by 3% in the third quarter, adding 120,835 shares to hold about 4.18 million shares, worth $43.8 million at its latest filing. Institutional investors collectively own 42.83% of the stock.
• Blue Owl Capital reported quarterly EPS of $0.33, topping the $0.32 consensus, and revenue of $392.1 million, above expectations of $383.8 million.
• The company announced a quarterly dividend of $0.31 per share, equivalent to a $1.24 annualized payout and an indicated yield of 11.1%. Its analyst consensus rating is “Moderate Buy,” with an average price target of $12.17.

Private Management Group Inc. boosted its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,177,582 shares of the company's stock after purchasing an additional 120,835 shares during the quarter. Blue Owl Capital comprises approximately 1.1% of Private Management Group Inc.'s portfolio, making the stock its 13th biggest holding. Private Management Group Inc. owned approximately 0.85% of Blue Owl Capital worth $43,823,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. QTR Family Wealth LLC purchased a new stake in shares of Blue Owl Capital during the 3rd quarter valued at $144,000. SMH Capital Advisors Inc. bought a new stake in shares of Blue Owl Capital during the 3rd quarter worth $210,000. Vise Technologies Inc. purchased a new position in Blue Owl Capital in the third quarter worth $227,000. Left Brain Wealth Management LLC purchased a new position in Blue Owl Capital in the third quarter worth $675,000. Finally, Generali Asset Management SPA SGR grew its position in Blue Owl Capital by 0.6% in the third quarter. Generali Asset Management SPA SGR now owns 4,377,778 shares of the company's stock worth $45,923,000 after acquiring an additional 25,984 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors.

Blue Owl Capital Stock Performance

NYSE OBDC opened at $11.14 on Tuesday. The company has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $11.11. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. Blue Owl Capital Corporation has a 12-month low of $9.81 and a 12-month high of $13.57. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 16.39 and a beta of 0.66.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $392.06 million for the quarter, compared to analysts' expectations of $383.82 million. Blue Owl Capital had a return on equity of 9.34% and a net margin of 20.79%. On average, equities analysts forecast that Blue Owl Capital Corporation will post 1.30 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors 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 currently 182.35%.

Analysts Set New Price Targets

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

About Blue Owl Capital

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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