Cresset Asset Management LLC Buys 3,809,000 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Cresset Asset Management LLC increased its stake in Blue Owl Capital Corporation by 85.8%, acquiring an additional 3,809,000 shares, bringing its total ownership to about 1.61% of the company worth approximately $123.98 million.
• Blue Owl Capital announced a quarterly dividend of $0.37 per share, with a yield of 10.5% based on an annual payout of $1.48, reflecting a payout ratio of 98.01%.
• Recent ratings for Blue Owl Capital's stock vary from "equal weight" to "strong buy," with an average price target among analysts of $15.42.

Cresset Asset Management LLC boosted its holdings in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 85.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,248,547 shares of the company's stock after purchasing an additional 3,809,000 shares during the quarter. Blue Owl Capital comprises 0.6% of Cresset Asset Management LLC's portfolio, making the stock its 27th largest position. Cresset Asset Management LLC owned approximately 1.61% of Blue Owl Capital worth $123,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in shares of Blue Owl Capital by 9.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock valued at $197,000 after buying an additional 1,083 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Blue Owl Capital by 85.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,055 shares of the company's stock valued at $15,042,000 after buying an additional 474,100 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Blue Owl Capital by 4.3% during the first quarter. Sound Income Strategies LLC now owns 3,153,298 shares of the company's stock valued at $46,227,000 after buying an additional 129,038 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Blue Owl Capital during the first quarter valued at approximately $887,000. Finally, Round Rock Advisors LLC grew its holdings in shares of Blue Owl Capital by 195.6% during the first quarter. Round Rock Advisors LLC now owns 134,586 shares of the company's stock valued at $1,973,000 after buying an additional 89,054 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Blue Owl Capital

In other news, Director Victor Woolridge acquired 6,915 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the transaction, the director directly owned 28,191 shares of the company's stock, valued at approximately $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC traded down $0.1050 during mid-day trading on Thursday, reaching $14.0450. 1,108,720 shares of the company traded hands, compared to its average volume of 3,202,089. The company's 50 day moving average price is $14.49 and its 200-day moving average price is $14.51. The firm has a market cap of $7.18 billion, a PE ratio of 9.30 and a beta of 0.74. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.73.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. The company had revenue of $485.84 million during 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 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

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

About Blue Owl Capital

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.