Blue Owl Capital Corporation $OBDC Shares Purchased by Cresset Asset Management LLC

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 shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 85.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,248,547 shares of the company's stock after purchasing an additional 3,809,000 shares during the period. Blue Owl Capital makes up 0.6% of Cresset Asset Management LLC's investment portfolio, making the stock its 27th largest holding. Cresset Asset Management LLC owned about 1.61% of Blue Owl Capital worth $123,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OBDC. Golden State Equity Partners boosted its holdings in Blue Owl Capital by 1.7% during the first quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock worth $670,000 after buying an additional 742 shares in the last quarter. BlueStem Wealth Partners LLC grew its holdings in Blue Owl Capital by 2.5% in the first quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock valued at $480,000 after purchasing an additional 784 shares during the period. Flagship Harbor Advisors LLC grew its stake in Blue Owl Capital by 6.1% during the first quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock worth $204,000 after buying an additional 798 shares during the period. Avantax Advisory Services Inc. grew its stake in Blue Owl Capital by 2.7% during the first quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock worth $548,000 after buying an additional 996 shares during the period. Finally, Essex Financial Services Inc. grew its stake in Blue Owl Capital by 3.3% during the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock worth $459,000 after buying an additional 1,000 shares during the period. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OBDC has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a research note on Thursday, May 15th. LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Finally, B. Riley assumed coverage on shares of Blue Owl Capital in a report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $15.42.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC traded up $0.0250 on Tuesday, reaching $14.1850. 2,604,798 shares of the company's stock were exchanged, compared to its average volume of 2,532,653. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 8.19 and a beta of 0.74. Blue Owl Capital Corporation has a fifty-two week low of $12.11 and a fifty-two week high of $15.73. The business's 50-day moving average is $14.50 and its two-hundred day moving average is $14.51. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The business had revenue of $485.84 million for the quarter, compared to analysts' expectations of $480.42 million. As a group, equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 10.4%. Blue Owl Capital's dividend payout ratio is presently 98.01%.

Insider Buying and Selling at Blue Owl Capital

In related news, Director Victor Woolridge acquired 6,915 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the purchase, the director directly owned 28,191 shares in the company, valued at $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

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.