Blue Owl Capital Corporation (NYSE:OBDC) Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. decreased its stake in Blue Owl Capital by 38.4%, holding 136,739 shares worth approximately $2,005,000 after selling 85,116 shares in the first quarter.
• Several institutional investors, including the Oregon Public Employees Retirement Fund and Cresset Asset Management LLC, made significant additions to their positions in Blue Owl Capital, with the former increasing its stake by 222.0%.
• Blue Owl Capital recently reported an EPS of $0.39 for the quarter, missing analysts' consensus estimates, and announced a $0.01 dividend, yielding 11.51%.

Envestnet Asset Management Inc. reduced its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 38.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,739 shares of the company's stock after selling 85,116 shares during the period. Envestnet Asset Management Inc.'s holdings in Blue Owl Capital were worth $2,005,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Golden State Equity Partners increased its position in shares of Blue Owl Capital by 1.7% during the 1st quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock valued at $670,000 after purchasing an additional 742 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of Blue Owl Capital by 6.1% in the 1st 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. Essex Financial Services Inc. lifted its stake in shares of Blue Owl Capital by 3.3% during the 1st quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock worth $459,000 after purchasing an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Blue Owl Capital by 9.1% during the 4th 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 in the last quarter. Finally, Tranquility Partners LLC increased its position in Blue Owl Capital by 0.8% during the 1st quarter. Tranquility Partners LLC now owns 153,391 shares of the company's stock valued at $2,249,000 after buying an additional 1,210 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Down 1.3%

OBDC traded down $0.19 on Friday, hitting $14.09. 3,044,300 shares of the company were exchanged, compared to its average volume of 2,609,898. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.73. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 9.09 and a beta of 0.74. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average price of $14.59 and a two-hundred day moving average price of $14.57.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). The business had revenue of $464.65 million for the quarter, compared to analysts' expectations of $457.88 million. Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. On average, equities analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.01 dividend. This represents a dividend yield of 1,151.0%. The ex-dividend date of this dividend was Friday, May 30th. Blue Owl Capital's payout ratio is presently 95.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Jefferies Financial Group assumed coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a "buy" rating and a $16.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 15th. Finally, B. Riley began coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price on the stock. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Blue Owl Capital presently has an average rating of "Buy" and a consensus target price of $15.64.

Insider Buying and Selling at Blue Owl Capital

In related news, Director Victor Woolridge acquired 6,915 shares of Blue Owl Capital stock in a transaction on Tuesday, May 27th. The stock was purchased at an average cost of $14.45 per share, with a total value of $99,921.75. Following the purchase, the director directly owned 28,191 shares in the company, valued at approximately $407,359.95. The trade was a 32.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company's stock.

Blue Owl Capital Profile

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.