Blue Owl Capital Corporation $OBDC Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors reduced its Blue Owl Capital stake by 57.6% in the first quarter, selling 167,991 shares and retaining 123,710 shares valued at $1.37 million. Institutional investors and hedge funds collectively own 42.83% of the company.
• Analyst sentiment remains positive, with an overall “Moderate Buy” rating and an average price target of $13.00, compared with the stock’s recent price of $11.71.
• Blue Owl Capital exceeded quarterly expectations with earnings of $0.34 per share and revenue of $396 million. The company declared a quarterly dividend of $0.31 per share, representing a 10.6% annualized yield.

NewEdge Advisors LLC cut its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 57.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,710 shares of the company's stock after selling 167,991 shares during the quarter. NewEdge Advisors LLC's holdings in Blue Owl Capital were worth $1,368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strs Ohio boosted its position in Blue Owl Capital by 411.4% during the 1st quarter. Strs Ohio now owns 10,941,976 shares of the company's stock valued at $121,018,000 after purchasing an additional 8,802,373 shares during the period. Lalia Capital LLC acquired a new stake in Blue Owl Capital in the fourth quarter worth $37,991,000. UBS Group AG increased its position in Blue Owl Capital by 40.6% in the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company's stock worth $106,011,000 after buying an additional 2,463,080 shares during the period. Private Management Group Inc. bought a new stake in Blue Owl Capital in the fourth quarter valued at $27,012,000. Finally, Wells Fargo & Company MN lifted its stake in Blue Owl Capital by 142.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,440,960 shares of the company's stock valued at $42,771,000 after buying an additional 2,022,806 shares during the last quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. Lucid Cap Mkts upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research report on Friday, July 24th. Truist Financial reduced their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Capital One Financial set a $13.00 price target on shares of Blue Owl Capital in a research note on Friday, July 24th. One equities research 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Trading Down 0.0%

Shares of OBDC stock opened at $11.71 on Monday. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $14.44. The firm has a market capitalization of $5.78 billion, a PE ratio of 20.92 and a beta of 0.62. The stock has a fifty day moving average of $11.02 and a two-hundred day moving average of $11.23. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.The company had revenue of $396.00 million for the quarter, compared to analyst estimates of $394.23 million. During the same period last year, the company earned $0.40 earnings per share. As a group, research analysts expect that Blue Owl Capital Corporation will post 1.29 EPS for the current year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Wednesday, September 30th. Blue Owl Capital's payout ratio is 221.43%.

About Blue Owl Capital

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.

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