HB Wealth Management LLC Boosts 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 increased its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 311.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,131,920 shares of the company's stock after acquiring an additional 856,735 shares during the quarter. HB Wealth Management LLC owned about 0.22% of Blue Owl Capital worth $16,594,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC lifted its holdings in shares of Blue Owl Capital by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock worth $45,000 after acquiring an additional 1,500 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Blue Owl Capital in the 4th quarter worth about $48,000. Roxbury Financial LLC purchased a new position in Blue Owl Capital in the 1st quarter worth about $50,000. Lazard Asset Management LLC purchased a new position in Blue Owl Capital in the 4th quarter worth about $49,000. Finally, Versant Capital Management Inc purchased a new position in Blue Owl Capital in the 1st quarter worth about $63,000. Institutional investors own 42.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target 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 target 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. Jefferies Financial Group assumed coverage on shares of Blue Owl Capital in a research note on Friday, April 11th. They set a "buy" rating and a $16.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 15th. Finally, B. Riley started coverage on shares of Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price on the stock. Three equities research 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, the company presently has a consensus rating of "Buy" and an average target price of $15.64.

Insider Activity

In related news, Director Victor Woolridge bought 6,915 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $14.45 per share, with a total value of $99,921.75. Following the transaction, the director owned 28,191 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company's stock.

Blue Owl Capital Stock Down 0.2%

Shares of Blue Owl Capital stock traded down $0.04 on Wednesday, reaching $14.52. The stock had a trading volume of 875,417 shares, compared to its average volume of 3,268,382. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $7.42 billion, a P/E ratio of 9.36 and a beta of 0.72. The company has a 50 day moving average price of $14.60 and a 200 day moving average price of $14.59. Blue Owl Capital Corporation has a 1 year low of $12.11 and a 1 year high of $15.86.

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 analysts' consensus estimates of $0.43 by ($0.04). The business had revenue of $464.65 million for the quarter, compared to analyst estimates of $457.88 million. Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. As a group, equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Cuts Dividend

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

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.