Blue Owl Capital Corporation $OBDC Shares Sold by DNB Asset Management AS

Key Points

• DNB Asset Management AS cut its Blue Owl Capital Corporation stake by 21.9% in the fourth quarter, selling 110,278 shares and leaving it with 392,511 shares valued at about $4.88 million.
• Blue Owl Capital’s latest quarterly results missed analyst estimates, with EPS of $0.31 versus $0.35 expected and revenue of $391 million versus $422.02 million expected.
• The company recently declared a quarterly dividend of $0.31 per share, implying an annualized yield of 11.2%, while analysts currently hold a consensus rating of Moderate Buy with an average target price of $13.00.

DNB Asset Management AS lowered its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,511 shares of the company's stock after selling 110,278 shares during the period. DNB Asset Management AS owned 0.08% of Blue Owl Capital worth $4,879,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OBDC. Goldman Sachs Group Inc. boosted its stake in Blue Owl Capital by 25.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company's stock worth $28,211,000 after purchasing an additional 384,641 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Blue Owl Capital during the 1st quarter valued at about $6,641,000. EverSource Wealth Advisors LLC increased its holdings in Blue Owl Capital by 106.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company's stock valued at $125,000 after acquiring an additional 4,494 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Blue Owl Capital by 133.8% during the 2nd quarter. Squarepoint Ops LLC now owns 93,691 shares of the company's stock valued at $1,344,000 after acquiring an additional 53,613 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in Blue Owl Capital by 24.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company's stock valued at $235,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Stock Up 0.4%

Shares of NYSE:OBDC opened at $11.06 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $11.23 and a 200 day simple moving average of $11.95. The firm has a market cap of $5.49 billion, a PE ratio of 15.79 and a beta of 0.64. Blue Owl Capital Corporation has a 12-month low of $10.52 and a 12-month high of $15.19.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). The company had revenue of $391.00 million during the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. On average, equities research analysts anticipate that Blue Owl Capital Corporation will post 1.28 EPS for the current fiscal year.

Blue Owl Capital announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Blue Owl Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital's payout ratio is 211.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OBDC shares. Truist Financial decreased their price target on shares of Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reduced their target price on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, April 16th. Royal Bank Of Canada reduced their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. Wall Street Zen cut shares of Blue Owl Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Profile

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

Want to see what other hedge funds are holding OBDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blue Owl Capital Corporation (NYSE:OBDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.