Melia Wealth LLC Cuts Position in Blue Owl Capital Corporation $OBDC

Key Points

• Melia Wealth LLC cut its Blue Owl Capital position by 35.9% in the second quarter, selling 435,314 shares and retaining 778,167 shares valued at approximately $8.46 million.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $13.00, compared with a recent price of $11.29.
• Blue Owl Capital reported quarterly EPS of $0.34, ahead of the $0.32 consensus estimate, and announced a $0.31 quarterly dividend, equivalent to an annualized yield of about 11%.

Melia Wealth LLC lessened its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 35.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 778,167 shares of the company's stock after selling 435,314 shares during the quarter. Blue Owl Capital accounts for approximately 4.9% of Melia Wealth LLC's portfolio, making the stock its 11th largest holding. Melia Wealth LLC owned about 0.16% of Blue Owl Capital worth $8,459,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. IFP Advisors Inc increased its position 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 valued at $27,000 after purchasing an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock worth $27,000 after buying an additional 1,320 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital during the third quarter valued at approximately $30,000. FNY Investment Advisers LLC raised its stake in shares of Blue Owl Capital by 440.0% during the second quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company's stock worth $29,000 after acquiring an additional 2,200 shares in the last quarter. Finally, AG Campbell Advisory LLC purchased a new position in shares of Blue Owl Capital during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

OBDC has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Capital One Financial set a $13.00 price objective on Blue Owl Capital in a report on Friday, July 24th. Lucid Cap Mkts raised Blue Owl Capital to a "strong-buy" rating in a research note on Friday, July 24th. Truist Financial reduced their price target on Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC opened at $11.29 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 20.15 and a beta of 0.62. The company has a 50-day moving average price of $11.08 and a 200-day moving average price of $11.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $14.44.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $396.00 million for the quarter, compared to analysts' expectations of $394.23 million. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.During the same period last year, the firm earned $0.40 earnings per share. As a group, equities analysts anticipate that Blue Owl Capital Corporation will post 1.29 EPS for the current year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date is Wednesday, September 30th. Blue Owl Capital's dividend payout ratio is currently 221.43%.

Blue Owl Capital Profile

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.

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