Evoke Wealth LLC Has $2.25 Million Holdings in Blue Owl Capital Corporation $OBDC

Key Points

• Evoke Wealth LLC increased its Blue Owl Capital stake by 1,575.4% in the fourth quarter, ending with 175,662 shares valued at about $2.25 million.
• Blue Owl Capital reported Q1 earnings of $0.31 per share, missing analyst expectations, and revenue of $391 million, also below estimates.
• The company cut its quarterly dividend to $0.31 per share, implying an annualized yield of 11.3%, while also authorizing a $300 million share repurchase program.

Evoke Wealth LLC grew its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 1,575.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,662 shares of the company's stock after buying an additional 165,177 shares during the period. Evoke Wealth LLC's holdings in Blue Owl Capital were worth $2,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock valued at $27,000 after purchasing an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Blue Owl Capital by 166.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock valued at $27,000 after purchasing an additional 1,320 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Blue Owl Capital during the third quarter valued at approximately $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Blue Owl Capital during the third quarter valued at approximately $30,000. Finally, Assetmark Inc. acquired a new position in Blue Owl Capital during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on OBDC shares. Zacks Research upgraded Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Wall Street Zen downgraded Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Royal Bank Of Canada lowered their price target on Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, February 20th. Truist Financial lowered their price target on Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price target on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Trading Down 1.5%

Shares of Blue Owl Capital stock opened at $11.02 on Friday. The company's fifty day simple moving average is $11.22 and its 200-day simple moving average is $11.92. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 15.74 and a beta of 0.64. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $15.19.

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

Blue Owl Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is 211.43%.

Blue Owl Capital declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Blue Owl Capital Profile

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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