OMERS ADMINISTRATION Corp Buys 707,055 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• OMERS Administration Corp boosted its stake in Blue Owl Capital by 64.6% in the fourth quarter, buying 707,055 additional shares and bringing its total holding to 1.8 million shares worth about $22.4 million.
• Blue Owl Capital shares fell 1.2% to $11.05, near the low end of their 52-week range, while the company reported mixed recent results with Q1 earnings of $0.31 per share versus the $0.35 consensus estimate.
• The company announced a quarterly dividend of $0.31 per share and has a $300 million share repurchase authorization, though its payout ratio is high at 211.43%; analysts currently rate the stock a consensus Moderate Buy with a $13 target price.

OMERS ADMINISTRATION Corp raised its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,801,012 shares of the company's stock after purchasing an additional 707,055 shares during the quarter. OMERS ADMINISTRATION Corp owned 0.35% of Blue Owl Capital worth $22,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in Blue Owl Capital during the third quarter valued at approximately $1,208,000. Next Capital Management LLC lifted its position in Blue Owl Capital by 407.0% during the fourth quarter. Next Capital Management LLC now owns 199,584 shares of the company's stock valued at $2,488,000 after purchasing an additional 160,221 shares during the last quarter. Van ECK Associates Corp lifted its position in Blue Owl Capital by 6.0% during the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company's stock valued at $170,663,000 after purchasing an additional 757,203 shares during the last quarter. Tectonic Advisors LLC lifted its position in Blue Owl Capital by 13.0% during the fourth quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company's stock valued at $12,975,000 after purchasing an additional 119,798 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in Blue Owl Capital by 11.4% during the fourth quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company's stock valued at $47,665,000 after purchasing an additional 387,347 shares during the last quarter. 42.83% of the stock is currently owned by institutional investors.

Blue Owl Capital Stock Down 1.2%

Shares of NYSE OBDC opened at $11.05 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 52 week low of $10.52 and a 52 week high of $15.19. The firm's fifty day moving average is $11.23 and its 200 day moving average is $11.79. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 15.78 and a beta of 0.62.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The firm had revenue of $391.00 million during the quarter, compared to analysts' expectations of $422.02 million. On average, equities research analysts expect that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital's payout ratio is presently 211.43%.

Blue Owl Capital declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Zacks Research upgraded shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Wells Fargo & Company lowered their price objective on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Wall Street Zen lowered shares of Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Truist Financial lowered their price objective on shares of Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. One research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

About Blue Owl Capital

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.