Blue Owl Capital Corporation $OBDC Position Trimmed by Demars Financial Group LLC

Key Points

• Demars Financial Group LLC significantly reduced its stake in Blue Owl Capital Corporation, decreasing its holdings by 92.8% during the 2nd quarter, maintaining only 32,411 shares valued at $465,000.
• Analysts have a favorable outlook on Blue Owl Capital, with a consensus rating of "Buy" and a target price of $15.21, while Raymond James Financial recently set a price target of $14.00.
• Blue Owl Capital has increased its quarterly dividend from $0.01 to $0.02, resulting in a yield of 0.6% and a reported payout ratio of 98.01%.

Demars Financial Group LLC decreased its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 92.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,411 shares of the company's stock after selling 420,363 shares during the period. Demars Financial Group LLC's holdings in Blue Owl Capital were worth $465,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OBDC. Wealth Enhancement Advisory Services LLC increased its stake in Blue Owl Capital by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 52,977 shares of the company's stock valued at $777,000 after purchasing an additional 6,350 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Blue Owl Capital by 784.8% during the first quarter. Exchange Traded Concepts LLC now owns 10,856 shares of the company's stock valued at $159,000 after acquiring an additional 9,629 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Blue Owl Capital during the first quarter valued at $155,000. TT Capital Management LLC boosted its holdings in shares of Blue Owl Capital by 52.8% during the first quarter. TT Capital Management LLC now owns 250,930 shares of the company's stock valued at $3,679,000 after acquiring an additional 86,710 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Blue Owl Capital by 0.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 334,490 shares of the company's stock valued at $4,904,000 after acquiring an additional 2,853 shares during the period. Institutional investors own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

OBDC has been the subject of several analyst reports. Raymond James Financial set a $14.00 price target on shares of Blue Owl Capital and gave the company an "outperform" rating in a report on Tuesday, October 7th. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.21.

Blue Owl Capital Stock Performance

OBDC stock opened at $12.65 on Monday. The company has a market capitalization of $6.46 billion, a P/E ratio of 8.38 and a beta of 0.75. The company has a 50-day simple moving average of $13.62 and a 200 day simple moving average of $14.05. Blue Owl Capital Corporation has a fifty-two week low of $12.04 and a fifty-two week high of $15.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $485.84 million during the quarter, compared to the consensus estimate of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. Sell-side analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a yield of 0.6%. Blue Owl Capital's dividend payout ratio is currently 98.01%.

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.

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