Certuity LLC Has $7.96 Million Stock Position in Blue Owl Capital Corporation $OBDC

Key Points

• Certuity LLC trimmed its stake in Blue Owl Capital by 15.7% in Q4, selling 119,060 shares and ending the period with 640,315 shares (about 0.13% of the company) valued at $7.96 million.
• Blue Owl recently paid a quarterly dividend of $0.37 (annualized $1.48) implying a 13.2% dividend yield with a payout ratio of 119.35%, and its board approved a $300 million buyback program representing up to 5.1% of shares.
• Analysts have a mixed view but a consensus of "Moderate Buy" with an average price target of $13.71, reflecting a split of ratings including two Strong Buy, four Buy and three Hold recommendations.

Certuity LLC reduced its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 640,315 shares of the company's stock after selling 119,060 shares during the quarter. Certuity LLC owned about 0.13% of Blue Owl Capital worth $7,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Carmel Capital Partners LLC lifted its stake in shares of Blue Owl Capital by 135.4% in the fourth quarter. Carmel Capital Partners LLC now owns 241,837 shares of the company's stock worth $3,006,000 after acquiring an additional 139,111 shares during the period. UBS Group AG lifted its stake in shares of Blue Owl Capital by 40.6% in 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 period. Golden State Equity Partners lifted its stake in shares of Blue Owl Capital by 1.8% in the fourth quarter. Golden State Equity Partners now owns 46,405 shares of the company's stock worth $577,000 after acquiring an additional 836 shares during the period. Obermeyer Wealth Partners lifted its stake in shares of Blue Owl Capital by 12.5% in the fourth quarter. Obermeyer Wealth Partners now owns 196,263 shares of the company's stock worth $2,440,000 after acquiring an additional 21,788 shares during the period. Finally, Cornerstone Advisory LLC bought a new stake in Blue Owl Capital in the fourth quarter worth approximately $1,417,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OBDC shares. Wall Street Zen upgraded Blue Owl Capital from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Keefe, Bruyette & Woods lowered their target price on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating for the company in a report on Thursday, April 16th. Royal Bank Of Canada lowered their target price on Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Truist Financial lowered their target price 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. Finally, Zacks Research upgraded Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.71.

Blue Owl Capital Trading Down 0.8%

Shares of OBDC stock opened at $11.19 on Tuesday. The company has a market cap of $5.56 billion, a P/E ratio of 9.02 and a beta of 0.65. The stock has a 50 day simple moving average of $11.29 and a two-hundred day simple moving average of $12.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.19.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $439.50 million during the quarter, compared to the consensus estimate of $454.38 million. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%. Research analysts forecast that Blue Owl Capital Corporation will post 1.36 earnings per share 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 issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 13.2%. Blue Owl Capital's payout ratio is currently 119.35%.

Blue Owl Capital announced that its board has approved a stock buyback plan on Wednesday, February 18th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Blue Owl Capital Company 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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