Private Advisor Group LLC Has $1.54 Million Position in Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• Private Advisor Group LLC reduced its holdings in Blue Owl Capital by 28.2%, selling 41,263 shares, bringing its total to 105,065 shares valued at approximately $1.54 million.
• Blue Owl Capital recently reported earnings of $0.39 per share, which missed analysts' expectations of $0.43, while revenue was slightly above expectations at $464.65 million.
• The company announced a reduced dividend of $0.01 per share, with a high dividend payout ratio of 95.48%, resulting in a yield of 11.51%.

Private Advisor Group LLC cut its holdings in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 28.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,065 shares of the company's stock after selling 41,263 shares during the period. Private Advisor Group LLC's holdings in Blue Owl Capital were worth $1,540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Muzinich & Co. Inc. boosted its holdings in Blue Owl Capital by 87.2% during the first quarter. Muzinich & Co. Inc. now owns 1,058,218 shares of the company's stock valued at $15,513,000 after acquiring an additional 493,067 shares during the period. Mandatum Life Insurance Co Ltd boosted its holdings in Blue Owl Capital by 4.2% during the first quarter. Mandatum Life Insurance Co Ltd now owns 46,931 shares of the company's stock valued at $688,000 after acquiring an additional 1,880 shares during the period. Graypoint LLC boosted its holdings in Blue Owl Capital by 7.0% during the first quarter. Graypoint LLC now owns 395,049 shares of the company's stock valued at $5,791,000 after acquiring an additional 25,912 shares during the period. Trust Investment Advisors boosted its holdings in Blue Owl Capital by 3.1% during the first quarter. Trust Investment Advisors now owns 58,798 shares of the company's stock valued at $862,000 after acquiring an additional 1,750 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in Blue Owl Capital by 9.9% during the first quarter. Tectonic Advisors LLC now owns 670,113 shares of the company's stock valued at $9,824,000 after acquiring an additional 60,232 shares during the period. 42.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OBDC. Keefe, Bruyette & Woods reduced their target price on shares of 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a research note on Thursday, May 15th. B. Riley began coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price for the company. Wells Fargo & Company dropped their price target on shares of 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. Finally, Jefferies Financial Group began coverage on shares of Blue Owl Capital in a research report on Friday, April 11th. They issued a "buy" rating and a $16.00 price target for the company. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $15.64.

Insider Buying and Selling

In other Blue Owl Capital news, Director Victor Woolridge bought 6,915 shares of the stock in a transaction on Tuesday, May 27th. The stock was purchased at an average price of $14.45 per share, with a total value of $99,921.75. Following the acquisition, the director owned 28,191 shares of the company's stock, valued at approximately $407,359.95. The trade was a 32.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company's stock.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock traded down $0.22 during midday trading on Tuesday, reaching $14.40. The company had a trading volume of 625,573 shares, compared to its average volume of 3,271,267. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 9.29 and a beta of 0.72. The stock has a fifty day simple moving average of $14.60 and a 200 day simple moving average of $14.59. Blue Owl Capital Corporation has a 1-year low of $12.11 and a 1-year high of $15.86.

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

Blue Owl Capital Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.01 per share. This represents a yield of 11.51%. The ex-dividend date was Friday, May 30th. Blue Owl Capital's dividend payout ratio is presently 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.