Kingstone Capital Partners Texas LLC Invests $734.62 Million in Blue Owl Capital Corporation $OBDC

Key Points

• Kingstone Capital Partners Texas LLC has acquired a significant stake in Blue Owl Capital Corporation, totaling over 52 million shares valued at approximately $734.6 million, representing 10.19% ownership.
• Blue Owl Capital recently increased its quarterly dividend from $0.01 to $0.02, resulting in an annualized yield of 0.6% and a payout ratio of 98.01%.
• The stock has received a majority of favorable ratings from analysts, with an average target price of $15.42 and multiple upgrades, including a "strong-buy" rating.

Kingstone Capital Partners Texas LLC purchased a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 52,098,372 shares of the company's stock, valued at approximately $734,619,000. Kingstone Capital Partners Texas LLC owned approximately 10.19% of Blue Owl Capital as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hamilton Lane Advisors LLC acquired a new position in Blue Owl Capital in the 2nd quarter valued at approximately $48,845,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Blue Owl Capital by 85.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,055 shares of the company's stock worth $15,042,000 after buying an additional 474,100 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Blue Owl Capital by 4.3% in the 1st quarter. Sound Income Strategies LLC now owns 3,153,298 shares of the company's stock worth $46,227,000 after buying an additional 129,038 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Blue Owl Capital by 217.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 43,069 shares of the company's stock worth $631,000 after buying an additional 29,521 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Blue Owl Capital in the 1st quarter worth approximately $887,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Trading Up 0.3%

OBDC traded up $0.05 during mid-day trading on Tuesday, reaching $13.66. The stock had a trading volume of 962,398 shares, compared to its average volume of 3,184,644. The stock has a market capitalization of $6.98 billion, a P/E ratio of 9.04 and a beta of 0.76. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. The firm's fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $14.32. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.73.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 EPS 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 firm had revenue of $485.84 million for the quarter, compared to analyst estimates of $480.42 million. On average, equities analysts predict that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.02 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.01. Blue Owl Capital's dividend payout ratio is 98.01%.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH raised Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $15.42.

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.