Blue Owl Capital Corporation $OBDC Stock Position Boosted by Melia Wealth LLC

Key Points

• Melia Wealth LLC increased its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 5.7% during Q2, now holding over 1 million shares, which constitutes 7.3% of its portfolio.
• The company reported Q2 earnings of $0.40 per share, exceeding analyst expectations of $0.39, with revenue reaching $485.84 million.
• Blue Owl Capital recently declared a quarterly dividend of $0.02 per share, a notable increase from the previous dividend of $0.01.

Melia Wealth LLC boosted its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,058,832 shares of the company's stock after purchasing an additional 57,128 shares during the period. Blue Owl Capital makes up 7.3% of Melia Wealth LLC's portfolio, making the stock its 5th biggest position. Melia Wealth LLC owned 0.21% of Blue Owl Capital worth $15,184,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in OBDC. Kingstone Capital Partners Texas LLC acquired a new position in Blue Owl Capital during the 2nd quarter worth $734,619,000. Oregon Public Employees Retirement Fund raised its position in shares of Blue Owl Capital by 222.0% during the 1st 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 raised its position in shares of Blue Owl Capital by 85.8% during the 1st 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 in the last quarter. Hamilton Lane Advisors LLC acquired a new position in shares of Blue Owl Capital in the 2nd quarter worth approximately $48,845,000. Finally, Trustees of Dartmouth College acquired a new position in shares of Blue Owl Capital in the 1st quarter worth approximately $48,774,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Price Performance

NYSE:OBDC opened at $12.51 on Tuesday. The stock has a market cap of $6.39 billion, a P/E ratio of 8.28 and a beta of 0.75. Blue Owl Capital Corporation has a one year low of $12.04 and a one year high of $15.73. The company has a fifty day moving average price of $13.73 and a 200 day moving average price of $14.10. 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 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 firm had revenue of $485.84 million for the quarter, compared to analyst estimates of $480.42 million. Analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.02 per share. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date was Friday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.6%. Blue Owl Capital's dividend payout ratio is currently 98.01%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a research report on Friday, August 8th. Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the company an "outperform" rating in a research report on Tuesday, October 7th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $15.21.

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.

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.