Carmel Capital Partners LLC Raises Holdings in Blue Owl Capital Corporation $OBDC

Key Points

• Carmel Capital Partners LLC boosted its stake in Blue Owl Capital by 135.4% in Q4, adding 139,111 shares for a total holding of 241,837 shares valued at $3.006 million, as institutional investors collectively own 42.83% of the company.
• Blue Owl paid a quarterly dividend of $0.37 (annualized $1.48), representing a 13.1% dividend yield with a payout ratio of 119.35%.
• The company reported Q results with EPS of $0.36 (beating estimates by $0.01) while revenue missed expectations, and its board authorized a $300 million share buyback program (up to 5.1% of shares).

Carmel Capital Partners LLC boosted its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 135.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,837 shares of the company's stock after acquiring an additional 139,111 shares during the quarter. Blue Owl Capital accounts for 1.1% of Carmel Capital Partners LLC's investment portfolio, making the stock its 27th biggest position. Carmel Capital Partners LLC's holdings in Blue Owl Capital were worth $3,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG increased its stake in Blue Owl Capital by 40.6% during the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company's stock worth $106,011,000 after acquiring an additional 2,463,080 shares during the last quarter. Golden State Equity Partners lifted its stake in shares of Blue Owl Capital by 1.8% in the 4th quarter. Golden State Equity Partners now owns 46,405 shares of the company's stock valued at $577,000 after purchasing an additional 836 shares in the last quarter. Obermeyer Wealth Partners grew its holdings in shares of Blue Owl Capital by 12.5% during the 4th quarter. Obermeyer Wealth Partners now owns 196,263 shares of the company's stock worth $2,440,000 after purchasing an additional 21,788 shares during the period. Cornerstone Advisory LLC purchased a new stake in shares of Blue Owl Capital during the 4th quarter worth about $1,417,000. Finally, Bayforest Capital Ltd increased its position in Blue Owl Capital by 859.0% during the 4th quarter. Bayforest Capital Ltd now owns 6,665 shares of the company's stock worth $83,000 after purchasing an additional 5,970 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $11.27 on Friday. The firm has a 50-day moving average of $11.30 and a two-hundred day moving average of $12.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $5.60 billion, a P/E ratio of 9.09 and a beta of 0.65. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results 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 business had revenue of $439.50 million for the quarter, compared to analyst estimates of $454.38 million. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%. On average, research analysts expect that Blue Owl Capital Corporation will post 1.36 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Blue Owl Capital's dividend payout ratio is presently 119.35%.

Blue Owl Capital announced that its board has authorized a share repurchase program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on OBDC. Royal Bank Of Canada reduced their price target 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. Zacks Research raised shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, April 16th. Wall Street Zen raised shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Truist Financial lowered their price target on Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating for the company in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.71.

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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