Callodine Capital Management LP Buys Shares of 325,000 Blue Owl Capital Corporation $OBDC

Key Points

• Callodine Capital Management LP has invested approximately $4.76 million in Blue Owl Capital by acquiring 325,000 shares, representing about 0.06% of the company.
• Blue Owl Capital reported earnings of $0.40 per share for the latest quarter, surpassing expectations and showing a revenue of $485.84 million.
• The company announced a dividend increase from $0.01 to $0.02 per share, resulting in a yield of 1,139.0% for investors.

Callodine Capital Management LP acquired a new stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 325,000 shares of the company's stock, valued at approximately $4,764,000. Callodine Capital Management LP owned approximately 0.06% of Blue Owl Capital as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OBDC. First Trust Advisors LP grew its stake in Blue Owl Capital by 3.4% during the 4th quarter. First Trust Advisors LP now owns 129,785 shares of the company's stock valued at $1,962,000 after purchasing an additional 4,313 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Blue Owl Capital by 9.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock valued at $197,000 after purchasing an additional 1,083 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in Blue Owl Capital by 14.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 19,295 shares of the company's stock valued at $292,000 after purchasing an additional 2,395 shares in the last quarter. Two Sigma Securities LLC grew its stake in Blue Owl Capital by 22.7% during the 4th quarter. Two Sigma Securities LLC now owns 12,907 shares of the company's stock valued at $195,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Aquatic Capital Management LLC grew its stake in Blue Owl Capital by 22.7% during the 4th quarter. Aquatic Capital Management LLC now owns 77,432 shares of the company's stock valued at $1,171,000 after purchasing an additional 14,332 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OBDC. B. Riley began coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price for the company. LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $15.42.

Blue Owl Capital Stock Performance

Shares of OBDC traded up $0.12 during mid-day trading on Monday, hitting $14.34. The stock had a trading volume of 1,571,156 shares, compared to its average volume of 2,510,817. The company has a market cap of $7.33 billion, a PE ratio of 9.49 and a beta of 0.76. Blue Owl Capital Corporation has a fifty-two week low of $12.11 and a fifty-two week high of $15.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The company's fifty day simple moving average is $14.44 and its two-hundred day simple moving average is $14.46.

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, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $485.84 million for the quarter, compared to the consensus estimate 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 expect 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 will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.02 dividend. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Blue Owl Capital's dividend payout ratio (DPR) is 98.01%.

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.