Blue Owl Capital Corporation $OBDC Shares Acquired by Graypoint LLC

Key Points

• Graypoint LLC increased its holdings in Blue Owl Capital by 49.4% during the second quarter, now owning approximately 590,048 shares valued at $8.46 million.
• Wall Street analysts have a positive outlook for Blue Owl Capital, with three analysts issuing a "strong-buy" rating and an average target price of $15.42.
• The company announced a quarterly dividend increase to $0.02 per share, up from $0.01, representing a dividend yield of 0.6% and a payout ratio of 98.01%.

Graypoint LLC boosted its holdings in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 49.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 590,048 shares of the company's stock after purchasing an additional 194,999 shares during the period. Graypoint LLC owned about 0.12% of Blue Owl Capital worth $8,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC acquired a new position in shares of Blue Owl Capital in the 2nd quarter valued at approximately $734,619,000. Oregon Public Employees Retirement Fund increased its stake in shares of Blue Owl Capital by 222.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock worth $236,007,000 after buying an additional 11,098,695 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of Blue Owl Capital by 85.8% in the first quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company's stock worth $123,979,000 after buying an additional 3,809,000 shares during the last quarter. Royal Bank of Canada raised its holdings in Blue Owl Capital by 3.0% in the first quarter. Royal Bank of Canada now owns 7,608,871 shares of the company's stock valued at $111,546,000 after acquiring an additional 221,571 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Blue Owl Capital by 8.4% in the first quarter. Ameriprise Financial Inc. now owns 5,190,522 shares of the company's stock valued at $76,083,000 after acquiring an additional 403,784 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $15.42.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $13.56 on Wednesday. The business's fifty day moving average price is $14.28 and its 200 day moving average price is $14.32. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.73. The stock has a market capitalization of $6.93 billion, a PE ratio of 8.98 and a beta of 0.76. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The company had revenue of $485.84 million for the quarter, compared to analysts' expectations of $480.42 million. Equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, August 29th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.