HighTower Advisors LLC Boosts Stock Position in Blue Owl Capital Corporation $OBDC

Key Points

• HighTower Advisors LLC increased its position in Blue Owl Capital Corporation by 10.6% during the first quarter, now holding 854,969 shares valued at approximately $12.53 million.
• Blue Owl Capital reported a quarterly earnings per share of $0.40, surpassing estimates, with a revenue of $485.84 million for the same period.
• The company declared a quarterly dividend of $0.37, yielding 10.5%, with a payout ratio of 98.01% due to its strong net margin of 38.29%.

HighTower Advisors LLC grew its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 10.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 854,969 shares of the company's stock after acquiring an additional 81,794 shares during the quarter. HighTower Advisors LLC owned about 0.17% of Blue Owl Capital worth $12,534,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Capital Planning Advisors LLC acquired a new stake in shares of Blue Owl Capital in the first quarter valued at approximately $528,000. Barnett & Company Inc. boosted its holdings in shares of Blue Owl Capital by 10.7% in the first quarter. Barnett & Company Inc. now owns 120,100 shares of the company's stock valued at $1,761,000 after acquiring an additional 11,600 shares during the period. Cooper Financial Group acquired a new stake in shares of Blue Owl Capital in the first quarter valued at approximately $151,000. Virtu Financial LLC acquired a new stake in shares of Blue Owl Capital in the first quarter valued at approximately $636,000. Finally, Invesco Ltd. lifted its holdings in shares of Blue Owl Capital by 11.9% during the first quarter. Invesco Ltd. now owns 275,398 shares of the company's stock worth $4,037,000 after purchasing an additional 29,190 shares during the period. 42.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OBDC shares. B. Riley started coverage on Blue Owl Capital in a report on Tuesday, May 13th. They set a "buy" rating and a $15.00 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 report on Thursday, May 15th. LADENBURG THALM/SH SH raised Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company reduced their target price on 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. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Blue Owl Capital currently has a consensus rating of "Buy" and a consensus price target of $15.42.

Insider Buying and Selling at Blue Owl Capital

In other news, Director Victor Woolridge purchased 6,915 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was acquired at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the transaction, the director directly owned 28,191 shares in the company, valued at $407,359.95. This represents a 32.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.

Blue Owl Capital Price Performance

Shares of OBDC stock traded up $0.1750 during mid-day trading on Friday, reaching $14.2450. The stock had a trading volume of 800,516 shares, compared to its average volume of 3,199,108. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.73. The company has a market cap of $7.28 billion, a P/E ratio of 9.44 and a beta of 0.74. The business has a 50-day simple moving average of $14.48 and a 200 day simple moving average of $14.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%.The business had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. On average, sell-side analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.37 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.4%. Blue Owl Capital's dividend payout ratio (DPR) is currently 98.01%.

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.