Northeast Financial Consultants Inc Purchases 415,974 Shares of Blue Owl Capital Corporation $OBDC

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

A number of other institutional investors also recently bought and sold shares of the stock. Golden State Equity Partners lifted its position in Blue Owl Capital by 1.7% in the first quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock worth $670,000 after buying an additional 742 shares during the last quarter. BlueStem Wealth Partners LLC lifted its position in Blue Owl Capital by 2.5% in the first quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock worth $480,000 after buying an additional 784 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Blue Owl Capital by 6.1% in the first quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock worth $204,000 after buying an additional 798 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Blue Owl Capital by 2.7% in the first quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock worth $548,000 after buying an additional 996 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its position in Blue Owl Capital by 3.3% in the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock worth $459,000 after buying an additional 1,000 shares during the last quarter. 42.83% of the stock is currently owned by institutional investors.

Blue Owl Capital Trading Down 0.8%

Shares of NYSE:OBDC traded down $0.12 on Friday, hitting $14.15. 2,034,532 shares of the company's stock were exchanged, compared to its average volume of 2,197,853. 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 $7.23 billion, a price-to-earnings ratio of 9.37 and a beta of 0.76. The business's 50 day simple moving average is $14.40 and its two-hundred day simple moving average is $14.38. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $485.84 million during the quarter, compared to the consensus estimate of $480.42 million. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%. Analysts anticipate that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.02 dividend. The ex-dividend date is 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 dividend yield of 0.6%. Blue Owl Capital's dividend payout ratio is presently 98.01%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Blue Owl Capital has an average 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.