Boston Partners Grows Stock Position in Blue Owl Capital Corporation $OBDC

Key Points

• Boston Partners increased its stake in Blue Owl Capital Corporation by 23.1%, holding 2,029,074 shares valued at approximately $29.47 million as of the end of Q1.
• Several institutional investors have ramped up their investments in Blue Owl Capital, with Oregon Public Employees Retirement Fund increasing its position by 222% to own 16,098,695 shares, worth about $236 million.
• Analysts have mixed views on Blue Owl Capital's stock, with a consensus rating of "Buy" and an average price target of $15.42, while Wells Fargo recently lowered its target from $15.00 to $14.00.

Boston Partners lifted its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 23.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,029,074 shares of the company's stock after purchasing an additional 380,973 shares during the quarter. Boston Partners owned 0.40% of Blue Owl Capital worth $29,469,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OBDC. Anchor Investment Management LLC raised its position in Blue Owl Capital by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock valued at $45,000 after buying an additional 1,500 shares during the last quarter. Lazard Asset Management LLC bought a new position in Blue Owl Capital in the fourth quarter valued at approximately $49,000. Roxbury Financial LLC bought a new position in Blue Owl Capital in the first quarter valued at approximately $50,000. Zions Bancorporation National Association UT bought a new position in Blue Owl Capital in the first quarter valued at approximately $59,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Blue Owl Capital in the first quarter valued at approximately $61,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Trading Down 0.2%

NYSE OBDC traded down $0.0350 during trading hours on Wednesday, hitting $14.1550. 2,655,428 shares of the company's stock were exchanged, compared to its average volume of 2,566,054. The stock has a 50-day simple moving average of $14.49 and a 200 day simple moving average of $14.51. Blue Owl Capital Corporation has a 1-year low of $12.11 and a 1-year high of $15.73. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 9.37 and a beta of 0.74. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%. On average, equities analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Tuesday, September 30th. Blue Owl Capital's dividend payout ratio (DPR) is currently 98.01%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Royal Bank Of Canada reissued an "outperform" rating and set a $16.00 target price on shares of Blue Owl Capital in a report on Thursday, May 15th. Wells Fargo & Company reduced their price target on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, B. Riley initiated coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Blue Owl Capital currently has a consensus rating of "Buy" and an average price target of $15.42.

Insider Buying and Selling at Blue Owl Capital

In related news, Director Victor Woolridge bought 6,915 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were bought at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the acquisition, the director directly owned 28,191 shares of the company's stock, valued at $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

Blue Owl Capital Profile

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.