Private Management Group Inc. Buys Shares of 2,173,119 Blue Owl Capital Corporation $OBDC

Key Points

• Private Management Group Inc. disclosed a new fourth-quarter stake in Blue Owl Capital Corporation, buying 2,173,119 shares worth about $27.0 million and representing roughly 0.43% of the company.
• Blue Owl Capital’s latest quarterly results missed analyst expectations, with EPS of $0.31 versus $0.35 expected and revenue of $391 million versus $422.02 million expected.
• The company announced a quarterly dividend of $0.31 per share and a $300 million share buyback program, though the dividend payout ratio is very high at 211.43%.

Private Management Group Inc. bought a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,173,119 shares of the company's stock, valued at approximately $27,012,000. Private Management Group Inc. owned approximately 0.43% of Blue Owl Capital as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of OBDC. IFP Advisors Inc boosted its holdings in shares of Blue Owl Capital by 79.6% in the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock valued at $27,000 after purchasing an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Blue Owl Capital by 166.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock valued at $27,000 after purchasing an additional 1,320 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Blue Owl Capital in the 3rd quarter valued at $30,000. Assetmark Inc. acquired a new stake in shares of Blue Owl Capital in the 3rd quarter valued at $38,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company reduced their target price on Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada reduced their target price on Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, February 20th. Truist Financial cut their price objective on Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Finally, Wall Street Zen downgraded Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Blue Owl Capital currently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Blue Owl Capital Stock Up 0.5%

Shares of NYSE OBDC opened at $11.18 on Friday. The company has a 50 day simple moving average of $11.22 and a 200 day simple moving average of $11.81. The firm has a market cap of $5.55 billion, a PE ratio of 15.96 and a beta of 0.62. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $15.19. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24.

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

Blue Owl Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is currently 211.43%.

Blue Owl Capital declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Blue Owl Capital Profile

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.

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