Kingswood Wealth Advisors LLC Sells 665,064 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Kingswood Wealth Advisors LLC has drastically reduced its stake in Blue Owl Capital Corporation, selling 665,064 shares and now holding just 121,559 shares worth approximately $1.74 million.
• Analysts maintain a consensus rating of "Buy" for Blue Owl Capital, with a target price of $15.21, supported by multiple upgrades from research firms.
• Blue Owl Capital recently increased its quarterly dividend from $0.01 to $0.02, reflecting a 98% dividend payout ratio and a yield of 0.6%.

Kingswood Wealth Advisors LLC decreased its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 84.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,559 shares of the company's stock after selling 665,064 shares during the period. Kingswood Wealth Advisors LLC's holdings in Blue Owl Capital were worth $1,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OBDC. Hamilton Lane Advisors LLC bought a new position in shares of Blue Owl Capital in the second quarter valued at approximately $48,845,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Blue Owl Capital by 85.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,055 shares of the company's stock valued at $15,042,000 after acquiring an additional 474,100 shares during the last quarter. Graypoint LLC raised its stake in shares of Blue Owl Capital by 49.4% in the second quarter. Graypoint LLC now owns 590,048 shares of the company's stock valued at $8,461,000 after acquiring an additional 194,999 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Blue Owl Capital by 4.3% in the first quarter. Sound Income Strategies LLC now owns 3,153,298 shares of the company's stock valued at $46,227,000 after acquiring an additional 129,038 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Blue Owl Capital by 217.9% in the first quarter. Integrated Wealth Concepts LLC now owns 43,069 shares of the company's stock valued at $631,000 after acquiring an additional 29,521 shares during the last quarter. Institutional investors own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OBDC shares. LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Raymond James Financial set a $14.00 target price on shares of Blue Owl Capital and gave the company an "outperform" rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Blue Owl Capital has a consensus rating of "Buy" and a consensus target price of $15.21.

Blue Owl Capital Price Performance

OBDC opened at $12.54 on Wednesday. The company has a fifty day moving average price of $13.88 and a two-hundred day moving average price of $14.19. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.73. The firm has a market capitalization of $6.41 billion, a PE ratio of 8.30 and a beta of 0.75.

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

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.02 dividend. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Blue Owl Capital's dividend payout ratio (DPR) is presently 98.01%.

Blue Owl Capital Company 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.

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