LPL Financial LLC Buys 122,163 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• LPL Financial LLC increased its holdings in Blue Owl Capital Corporation by 6.3% in the first quarter, owning approximately 2.08 million shares valued at $30.43 million.
• Blue Owl Capital's recently announced dividend was $0.01 per share, with a striking yield of 1,151.0%, but the company also suffers from a high dividend payout ratio of 95.48%.
• The company reported quarterly earnings of $0.39 per share, missing analyst expectations of $0.43, despite generating revenues of $464.65 million.

LPL Financial LLC raised its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,075,846 shares of the company's stock after buying an additional 122,163 shares during the quarter. LPL Financial LLC owned about 0.41% of Blue Owl Capital worth $30,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of OBDC. Oregon Public Employees Retirement Fund grew its position in shares of Blue Owl Capital by 222.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock worth $236,007,000 after acquiring an additional 11,098,695 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Blue Owl Capital by 9.2% during the 4th quarter. Royal Bank of Canada now owns 7,387,300 shares of the company's stock worth $111,696,000 after purchasing an additional 620,521 shares during the period. Ameriprise Financial Inc. boosted its holdings in Blue Owl Capital by 5.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock worth $72,361,000 after acquiring an additional 236,467 shares during the period. Cresset Asset Management LLC raised its position in shares of Blue Owl Capital by 8,188.9% in the 4th quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock valued at $68,762,000 after purchasing an additional 4,385,987 shares in the last quarter. Finally, Brown University raised its position in shares of Blue Owl Capital by 17.9% during the 1st quarter. Brown University now owns 4,348,863 shares of the company's stock valued at $63,754,000 after acquiring an additional 660,136 shares in the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Blue Owl Capital

In other news, Director Victor Woolridge bought 6,915 shares of Blue Owl Capital stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the purchase, the director directly owned 28,191 shares in the company, valued at approximately $407,359.95. This represents a 32.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OBDC shares. Jefferies Financial Group initiated coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a "buy" rating and a $16.00 price target for the company. B. Riley started coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price objective for the company. Wells Fargo & Company cut their price objective on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on 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. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 price target on shares of Blue Owl Capital in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of "Buy" and an average target price of $15.64.

Blue Owl Capital Price Performance

NYSE:OBDC traded down $0.19 during trading hours on Friday, reaching $14.09. 3,044,300 shares of the company were exchanged, compared to its average volume of 2,762,166. The company has a market capitalization of $7.20 billion, a P/E ratio of 9.09 and a beta of 0.74. Blue Owl Capital Corporation has a 1-year low of $12.11 and a 1-year high of $15.73. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day moving average of $14.59 and a 200 day moving average of $14.57.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). The firm had revenue of $464.65 million during the quarter, compared to the consensus estimate of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. Research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 1,151.0%. Blue Owl Capital's dividend payout ratio (DPR) is currently 95.48%.

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.