Corient Private Wealth LP Reduces Stake in Blue Owl Capital Corporation $OBDC

Key Points

• Corient Private Wealth reduced its Blue Owl Capital stake by 29.7% in the second quarter, selling 375,210 shares and retaining 887,048 shares valued at approximately $9.6 million. Institutional investors collectively own 42.83% of OBDC.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $13.00. Blue Owl recently reported quarterly EPS of $0.34, beating estimates of $0.32, and revenue of $396 million.
• Blue Owl announced a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and an 11.2% yield based on the article’s figures; shares recently opened at $11.11.

Corient Private Wealth LP cut its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 29.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 887,048 shares of the company's stock after selling 375,210 shares during the period. Corient Private Wealth LP owned 0.18% of Blue Owl Capital worth $9,642,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Strs Ohio lifted its stake in shares of Blue Owl Capital by 411.4% in the 1st quarter. Strs Ohio now owns 10,941,976 shares of the company's stock valued at $121,018,000 after purchasing an additional 8,802,373 shares during the period. Private Management Group Inc. raised its stake in Blue Owl Capital by 5.5% during the second quarter. Private Management Group Inc. now owns 4,056,747 shares of the company's stock valued at $44,097,000 after buying an additional 212,119 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Blue Owl Capital by 5.2% in the first quarter. Sound Income Strategies LLC now owns 3,976,748 shares of the company's stock worth $42,790,000 after acquiring an additional 196,847 shares in the last quarter. Lalia Capital LLC purchased a new stake in shares of Blue Owl Capital in the fourth quarter worth $37,991,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Blue Owl Capital by 71.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,085,234 shares of the company's stock worth $34,123,000 after acquiring an additional 1,284,222 shares during the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OBDC. Capital One Financial set a $13.00 price target on Blue Owl Capital in a report on Friday, July 24th. Lucid Cap Mkts raised shares of Blue Owl Capital to a "strong-buy" rating in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC opened at $11.11 on Thursday. The firm has a 50 day moving average of $11.19 and a 200 day moving average of $11.17. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 19.84 and a beta of 0.63. Blue Owl Capital Corporation has a 12-month low of $10.52 and a 12-month high of $14.03.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. The business had revenue of $396.00 million for the quarter, compared to the consensus estimate of $394.23 million. During the same period last year, the firm earned $0.40 earnings per share. On average, research analysts anticipate that Blue Owl Capital Corporation will post 1.29 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 11.2%. Blue Owl Capital's dividend payout ratio (DPR) is presently 14.29%.

About Blue Owl Capital

Blue Owl Capital Corporation NYSE: OBDC is a business development company that provides financing to privately held, primarily U.S.-based middle-market companies. The company seeks to generate income and long-term capital appreciation by investing in businesses across a range of industries.

OBDC's portfolio primarily consists of first-lien senior secured loans, with additional investments in second-lien loans and, to a lesser extent, equity interests and other securities. Its financing solutions may support acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company was formerly known as Owl Rock Capital Corporation and operates under an investment management agreement with an affiliate of Blue Owl Capital, a global alternative asset manager.

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