Independent Financial Group LLC Invests $1.93 Million in Blue Owl Capital Corporation $OBDC

Key Points

• Independent Financial Group LLC bought 174,018 shares of Blue Owl Capital Corporation in the first quarter, a new position valued at about $1.93 million.
• Analysts have turned more cautious on OBDC, with several firms cutting price targets and Wall Street Zen downgrading the stock to sell; consensus remains Moderate Buy with an average target price of $13.00.
• Blue Owl Capital recently reported Q1 earnings below expectations and announced a quarterly dividend of $0.31 per share, equal to an 11.3% annualized yield, though the payout ratio is high at 177.14%.

Independent Financial Group LLC bought a new position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 174,018 shares of the company's stock, valued at approximately $1,925,000.

Several other institutional investors also recently bought and sold shares of OBDC. Spire Wealth Management lifted its holdings in Blue Owl Capital by 29.1% in the fourth quarter. Spire Wealth Management now owns 3,680 shares of the company's stock valued at $46,000 after acquiring an additional 830 shares during the period. Golden State Equity Partners boosted its position in Blue Owl Capital by 1.8% in the 4th quarter. Golden State Equity Partners now owns 46,405 shares of the company's stock worth $577,000 after purchasing an additional 836 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock worth $27,000 after purchasing an additional 929 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Blue Owl Capital by 6.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,878 shares of the company's stock valued at $185,000 after purchasing an additional 964 shares in the last quarter. Finally, BlueStem Wealth Partners LLC increased its holdings in shares of Blue Owl Capital by 2.8% during the 4th quarter. BlueStem Wealth Partners LLC now owns 35,443 shares of the company's stock valued at $441,000 after purchasing an additional 978 shares in the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of 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. Wells Fargo & Company cut their price objective on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Truist Financial lowered their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Finally, Wall Street Zen cut Blue Owl Capital from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Trading Up 0.0%

Shares of OBDC stock opened at $10.99 on Monday. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 15.71 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $11.43.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 20.21% and a return on equity of 9.76%. On average, equities research analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.31 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.24 annualized dividend and a dividend yield of 11.3%. Blue Owl Capital's dividend payout ratio (DPR) is 177.14%.

About Blue Owl Capital

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.

Want to see what other hedge funds are holding OBDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blue Owl Capital Corporation (NYSE:OBDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.