SCS Capital Management LLC Takes $10.34 Million 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 acquired a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 687,962 shares of the company's stock, valued at approximately $10,340,000. SCS Capital Management LLC owned about 0.13% of Blue Owl Capital at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OBDC. SVB Wealth LLC acquired a new position in shares of Blue Owl Capital during the first quarter worth $28,000. Roxbury Financial LLC acquired a new stake in shares of Blue Owl Capital during the 1st quarter valued at $50,000. Lazard Asset Management LLC bought a new stake in Blue Owl Capital during the 4th quarter worth $49,000. Zions Bancorporation National Association UT acquired a new position in Blue Owl Capital in the 1st quarter worth about $59,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Blue Owl Capital in the 1st quarter worth about $61,000. Institutional investors own 42.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 15th. LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $15.42.

Blue Owl Capital Trading Up 0.8%

Shares of OBDC traded up $0.12 during mid-day trading on Thursday, reaching $14.27. 1,787,012 shares of the company were exchanged, compared to its average volume of 2,289,927. The business has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $14.39. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $7.29 billion, a PE ratio of 9.45 and a beta of 0.76. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.73.

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, beating the consensus estimate of $0.39 by $0.01. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%.The business had revenue of $485.84 million for the quarter, compared to analysts' expectations of $480.42 million. On average, analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date is Friday, August 29th. Blue Owl Capital's dividend payout ratio is currently 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.