SCS Capital Management LLC Acquires New Position in Blue Owl Capital Corporation $OBDC

Key Points

• SCS Capital Management LLC has acquired 687,962 shares of Blue Owl Capital Corporation, valuing the investment at approximately $10.34 million, representing 0.13% ownership.
• Blue Owl Capital recently announced an increase in its quarterly dividend from $0.01 to $0.02 per share, translating to an annualized yield of 0.6%.
• Analysts have a consensus rating of "Buy" for Blue Owl Capital, with price targets ranging from $15.00 to $16.00 per share following positive earnings results.

SCS Capital Management LLC purchased a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 687,962 shares of the company's stock, valued at approximately $10,340,000. SCS Capital Management LLC owned 0.13% of Blue Owl Capital as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital in the 1st quarter valued at about $6,641,000. DCM Advisors LLC raised its holdings in Blue Owl Capital by 7.9% in the 1st quarter. DCM Advisors LLC now owns 25,289 shares of the company's stock valued at $367,000 after acquiring an additional 1,848 shares during the period. Palogic Value Management L.P. raised its holdings in Blue Owl Capital by 17.9% in the 1st quarter. Palogic Value Management L.P. now owns 138,562 shares of the company's stock valued at $2,031,000 after acquiring an additional 21,026 shares during the period. Northeast Financial Consultants Inc raised its holdings in Blue Owl Capital by 359.8% in the 1st quarter. Northeast Financial Consultants Inc now owns 531,574 shares of the company's stock valued at $7,793,000 after acquiring an additional 415,974 shares during the period. Finally, CTC Alternative Strategies Ltd. bought a new position in Blue Owl Capital in the 1st quarter valued at about $154,000. 42.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $15.42.

Blue Owl Capital Stock Performance

Shares of OBDC traded down $0.12 during mid-day trading on Friday, hitting $14.15. 2,034,532 shares of the company's stock were exchanged, compared to its average volume of 2,247,047. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.73. The stock's 50-day simple moving average is $14.40 and its 200-day simple moving average is $14.38. The firm has a market cap of $7.23 billion, a price-to-earnings 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.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The company had revenue of $485.84 million for the quarter, compared to analysts' expectations of $480.42 million. On average, equities research analysts expect 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. Investors of record on Friday, August 29th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, August 29th. Blue Owl Capital's payout ratio is 98.01%.

About Blue Owl Capital

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.