NewEdge Advisors LLC Has $4.29 Million Stock Position in Blue Owl Capital Corporation $OBDC

Key Points

• NewEdge Advisors LLC has increased its holding in Blue Owl Capital Corporation by 8.0%, owning approximately 292,840 shares valued at $4.29 million as of the end of the first quarter.
• Several analysts have rated Blue Owl Capital's stock positively, with a consensus target price of $15.42 and ratings ranging from "Buy" to "Strong Buy" from multiple firms.
• The company recently announced a quarterly dividend increase to $0.02 per share, reflecting a growing commitment to return value to shareholders.

NewEdge Advisors LLC lifted its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 292,840 shares of the company's stock after acquiring an additional 21,586 shares during the quarter. NewEdge Advisors LLC owned approximately 0.06% of Blue Owl Capital worth $4,293,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position 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 valued at $631,000 after acquiring an additional 29,521 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Blue Owl Capital by 6.6% in the 1st quarter. Advisors Asset Management Inc. now owns 430,023 shares of the company's stock valued at $6,304,000 after acquiring an additional 26,510 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Blue Owl Capital by 942.1% in the 1st quarter. Ancora Advisors LLC now owns 255,854 shares of the company's stock valued at $3,751,000 after acquiring an additional 231,302 shares in the last quarter. Ares Management LLC lifted its position in shares of Blue Owl Capital by 3.1% in the 1st quarter. Ares Management LLC now owns 2,336,822 shares of the company's stock valued at $34,258,000 after acquiring an additional 70,018 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Blue Owl Capital in the 1st quarter valued at approximately $4,135,000. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analyst Upgrades and Downgrades

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

Blue Owl Capital Stock Down 0.8%

OBDC stock traded down $0.12 during midday trading on Friday, reaching $14.15. The company had a trading volume of 2,034,532 shares, compared to its average volume of 2,197,853. Blue Owl Capital Corporation has a 1 year low of $12.11 and a 1 year high of $15.73. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $7.23 billion, a P/E ratio of 9.37 and a beta of 0.76. The company has a 50 day moving average of $14.40 and a two-hundred day moving average of $14.38.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (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 company had revenue of $485.84 million during the quarter, compared to the consensus estimate of $480.42 million. On average, equities research analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, August 29th. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. Blue Owl Capital's payout ratio is currently 98.01%.

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.