Entropy Technologies LP Trims Stock Position in Blue Owl Capital Corporation $OBDC

Key Points

• Entropy Technologies LP cut its Blue Owl Capital stake by 85.4% in the first quarter, selling 114,878 shares and retaining 19,594 shares valued at approximately $217,000. Institutional investors collectively own 42.83% of OBDC.
• Analyst sentiment remains cautiously positive, with the stock carrying a consensus “Moderate Buy” rating and a $13.00 average price target, despite several brokerages lowering their targets.
• Blue Owl Capital shares opened at $10.77, near their 12-month low, after the company missed quarterly earnings and revenue estimates. The company paid a $0.31 quarterly dividend, yielding about 11.5%, but its payout ratio stood at a high 177.14%.

Entropy Technologies LP lessened its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 85.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,594 shares of the company's stock after selling 114,878 shares during the period. Entropy Technologies LP's holdings in Blue Owl Capital were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in OBDC. Bank of America Corp DE lifted its holdings in shares of Blue Owl Capital by 6.5% in the 3rd quarter. Bank of America Corp DE now owns 13,275,411 shares of the company's stock valued at $169,527,000 after purchasing an additional 811,973 shares during the last quarter. Strs Ohio grew its stake in Blue Owl Capital by 411.4% during the 1st quarter. Strs Ohio now owns 10,941,976 shares of the company's stock worth $121,018,000 after buying an additional 8,802,373 shares during the last quarter. UBS Group AG grew its stake in Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company's stock worth $106,011,000 after buying an additional 2,463,080 shares during the last quarter. Ameriprise Financial Inc. increased its position in Blue Owl Capital by 13.7% during the third quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company's stock worth $69,005,000 after buying an additional 659,025 shares during the period. Finally, Sound Income Strategies LLC increased its position in Blue Owl Capital by 5.2% during the first quarter. Sound Income Strategies LLC now owns 3,976,748 shares of the company's stock worth $42,790,000 after buying an additional 196,847 shares during the period. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OBDC. Lucid Cap Mkts upgraded Blue Owl Capital to a "strong-buy" rating in a research note on Friday, July 24th. Wells Fargo & Company cut their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Keefe, Bruyette & Woods reduced their price target on shares of Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating for the company in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Truist Financial decreased their price target on shares of Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blue Owl Capital presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Blue Owl Capital Stock Down 0.2%

Blue Owl Capital stock opened at $10.77 on Friday. Blue Owl Capital Corporation has a twelve month low of $10.52 and a twelve month high of $14.53. The stock has a 50 day moving average of $10.97 and a two-hundred day moving average of $11.32. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 15.38 and a beta of 0.62.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The company had revenue of $391.00 million during the quarter, compared to analysts' expectations of $422.02 million. As a group, research analysts expect that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date was Tuesday, June 30th. Blue Owl Capital's payout ratio is 177.14%.

About Blue Owl Capital

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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