Blue Owl Capital Corporation $OBDC Shares Acquired by Northeast Financial Consultants Inc

Key Points

• Northeast Financial Consultants Inc significantly increased its stake in Blue Owl Capital Corporation by 359.8% in Q1, acquiring an additional 415,974 shares to reach a total of 531,574 shares valued at approximately $7.79 million.
• The company recently announced a quarterly dividend increase to $0.02 per share, reflecting a positive change from the previous dividend of $0.01 and representing a dividend yield of 0.6%.
• Equities analysts hold a consensus rating of "Buy" for Blue Owl Capital, with an average price target of $15.42, indicating expectations for continued growth.

Northeast Financial Consultants Inc lifted its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 359.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,574 shares of the company's stock after buying an additional 415,974 shares during the quarter. Northeast Financial Consultants Inc owned approximately 0.10% of Blue Owl Capital worth $7,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its position in shares of Blue Owl Capital by 222.0% during 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 in the last quarter. Cresset Asset Management LLC boosted its holdings in 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 purchasing an additional 3,809,000 shares during the period. Royal Bank of Canada boosted 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 worth $111,546,000 after purchasing an additional 221,571 shares during the period. Ameriprise Financial Inc. boosted 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 worth $76,083,000 after purchasing an additional 403,784 shares during the period. Finally, Brown University boosted its holdings in Blue Owl Capital by 17.9% in the first quarter. Brown University now owns 4,348,863 shares of the company's stock worth $63,754,000 after purchasing an additional 660,136 shares during the period. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $14.30 on Tuesday. Blue Owl Capital Corporation has a 1 year low of $12.11 and a 1 year high of $15.73. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 9.47 and a beta of 0.76. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average of $14.42 and a 200-day moving average of $14.41.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $480.42 million. As a group, equities analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be 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 positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, August 29th. Blue Owl Capital's dividend payout ratio is presently 98.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented 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 objective for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 15th. Finally, LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $15.42.

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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