Blue Owl Capital Corporation (NYSE:OBDC) Shares Sold by Private Advisor Group LLC

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 reduced its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 28.2% during the first quarter, according to its most recent 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 quarter. Private Advisor Group LLC's holdings in Blue Owl Capital were worth $1,540,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its stake in shares of Blue Owl Capital by 222.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock worth $236,007,000 after acquiring an additional 11,098,695 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Blue Owl Capital by 8,188.9% during the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock valued at $68,762,000 after buying an additional 4,385,987 shares during the last quarter. Trustees of Dartmouth College purchased a new position in Blue Owl Capital during the first quarter valued at approximately $48,774,000. Raymond James Financial Inc. purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $28,434,000. Finally, Enstar Group LTD purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $10,139,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OBDC shares. B. Riley assumed coverage on shares of Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. Wells Fargo & Company decreased their price objective 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. Keefe, Bruyette & Woods cut their price target on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Finally, Jefferies Financial Group assumed coverage on Blue Owl Capital in a research report on Friday, April 11th. They set a "buy" rating and a $16.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Blue Owl Capital currently has an average rating of "Buy" and an average price target of $15.64.

Blue Owl Capital Trading Down 1.2%

NYSE OBDC traded down $0.18 during trading hours on Monday, hitting $14.67. 1,235,174 shares of the company's stock were exchanged, compared to its average volume of 3,283,021. The business's 50 day moving average is $14.60 and its 200-day moving average is $14.59. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.86. The firm has a market capitalization of $7.50 billion, a P/E ratio of 9.46 and a beta of 0.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.13 and a current ratio of 1.13.

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

Blue Owl Capital Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital's dividend payout ratio (DPR) is 95.48%.

Insider Activity at Blue Owl Capital

In other news, Director Victor Woolridge acquired 6,915 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the acquisition, the director directly owned 28,191 shares in the company, valued at $407,359.95. This trade represents a 32.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.