NewEdge Advisors LLC Purchases 21,586 Shares of 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 boosted its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 292,840 shares of the company's stock after buying an additional 21,586 shares during the period. NewEdge Advisors LLC owned approximately 0.06% of Blue Owl Capital worth $4,293,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OBDC. Oregon Public Employees Retirement Fund boosted its stake in 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 valued at $236,007,000 after buying an additional 11,098,695 shares during the period. Cresset Asset Management LLC raised its position in Blue Owl Capital by 85.8% during the first quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company's stock valued at $123,979,000 after purchasing an additional 3,809,000 shares in the last quarter. Trustees of Dartmouth College purchased a new stake in Blue Owl Capital during the first quarter valued at about $48,774,000. HB Wealth Management LLC raised its position in Blue Owl Capital by 311.3% during the first quarter. HB Wealth Management LLC now owns 1,131,920 shares of the company's stock valued at $16,594,000 after purchasing an additional 856,735 shares in the last quarter. Finally, Certuity LLC raised its position in Blue Owl Capital by 1,255.2% during the first quarter. Certuity LLC now owns 813,768 shares of the company's stock valued at $11,930,000 after purchasing an additional 753,721 shares in the last quarter. Institutional investors own 42.83% of the company's stock.

Blue Owl Capital Trading Down 0.8%

Shares of OBDC traded down $0.12 during trading hours on Friday, hitting $14.15. The company had a trading volume of 2,034,532 shares, compared to its average volume of 3,129,280. 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 cap of $7.23 billion, a P/E ratio of 9.37 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The stock's 50 day moving average price is $14.40 and its 200 day moving average price is $14.39.

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

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend 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 presently 98.01%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada restated an "outperform" rating and set a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 15th. LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Blue Owl Capital currently has an average rating of "Buy" and an average target price of $15.42.

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.