HB Wealth Management LLC Has $16.59 Million Stock Holdings in Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• HB Wealth Management LLC significantly increased its stake in Blue Owl Capital by 311.3%, acquiring an additional 856,735 shares, bringing its total ownership to approximately 1.13 million shares.
• The company recently reported earnings for the quarter, with an EPS of $0.39, missing the consensus estimate, but had a revenue of $464.65 million, exceeding expectations.
• Blue Owl Capital has faced further scrutiny as it cut its dividend payout down to $0.01 per share, resulting in a payout ratio of 95.48%, which raises concerns about its financial stability.

HB Wealth Management LLC lifted its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 311.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,131,920 shares of the company's stock after purchasing an additional 856,735 shares during the quarter. HB Wealth Management LLC owned about 0.22% of Blue Owl Capital worth $16,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in OBDC. Oregon Public Employees Retirement Fund lifted its holdings in shares of Blue Owl Capital by 222.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock valued at $236,007,000 after purchasing an additional 11,098,695 shares during the last quarter. Royal Bank of Canada increased its position in shares of Blue Owl Capital by 9.2% in the fourth quarter. Royal Bank of Canada now owns 7,387,300 shares of the company's stock worth $111,696,000 after acquiring an additional 620,521 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Blue Owl Capital by 5.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock worth $72,361,000 after acquiring an additional 236,467 shares in the last quarter. Cresset Asset Management LLC raised its stake in Blue Owl Capital by 8,188.9% during the 4th quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock valued at $68,762,000 after purchasing an additional 4,385,987 shares during the period. Finally, Brown University lifted its holdings in shares of Blue Owl Capital by 17.9% in the first quarter. Brown University now owns 4,348,863 shares of the company's stock valued at $63,754,000 after purchasing an additional 660,136 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors.

Blue Owl Capital Stock Performance

OBDC stock traded down $0.23 during trading on Monday, reaching $14.62. 2,154,666 shares of the stock were exchanged, compared to its average volume of 2,673,609. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.86. 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 company has a market capitalization of $7.47 billion, a P/E ratio of 8.20 and a beta of 0.72. The stock has a 50 day simple moving average of $14.60 and a 200-day simple moving average of $14.59.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. The firm had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. As a group, sell-side analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 11.51%. Blue Owl Capital's payout ratio is currently 95.48%.

Insider Transactions at Blue Owl Capital

In related news, Director Victor Woolridge acquired 6,915 shares of the stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the purchase, the director owned 28,191 shares in the company, valued at approximately $407,359.95. This trade represents a 32.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.