Border to Coast Pensions Partnership Ltd Sells 300,000 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Border to Coast Pensions Partnership Ltd cut its stake in Blue Owl Capital (NYSE:OBDC) by 19.4%, selling 300,000 shares and holding 1,250,000 shares (about 0.24% of the company) worth roughly $15.57 million after the 4Q 13F filing.
• Blue Owl announced a quarterly dividend of $0.37 (annualized $1.48) for a yield of 12.7% with a payout ratio of 119.35%, and its board authorized a $300 million share buyback program (up to 5.1% of shares).
• Analysts have a consensus rating of Moderate Buy with an average target price of $13.79; the stock trades near $11.63, with a PE of 9.38 and a market cap of about $5.78 billion.

Border to Coast Pensions Partnership Ltd lessened its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,250,000 shares of the company's stock after selling 300,000 shares during the period. Border to Coast Pensions Partnership Ltd owned about 0.24% of Blue Owl Capital worth $15,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock worth $27,000 after buying an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock worth $27,000 after buying an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Blue Owl Capital in the third quarter worth approximately $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Blue Owl Capital in the third quarter worth approximately $30,000. Finally, Assetmark Inc. bought a new position in Blue Owl Capital during the third quarter valued at approximately $38,000. Institutional investors own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OBDC shares. Royal Bank Of Canada lowered their price objective 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. Truist Financial lowered their price objective on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Keefe, Bruyette & Woods lowered their price objective on shares of Blue Owl Capital from $13.50 to $12.50 and set a "market perform" rating on the stock in a research report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.79.

Blue Owl Capital Stock Up 2.5%

OBDC opened at $11.63 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.26. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The company has a market capitalization of $5.78 billion, a PE ratio of 9.38 and a beta of 0.65. The firm's 50 day simple moving average is $11.31 and its two-hundred day simple moving average is $12.16.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $439.50 million during the quarter, compared to analysts' expectations of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. As a group, equities analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 12.7%. Blue Owl Capital's dividend payout ratio is 119.35%.

Blue Owl Capital declared that its board has authorized a stock buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.

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