Squarepoint Ops LLC Sells 142,790 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Squarepoint Ops LLC reduced its Blue Owl Capital stake by 66.2% in the second quarter, selling 142,790 shares and retaining 72,829 shares worth approximately $792,000. Institutional investors and hedge funds own 42.83% of OBDC.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $13.00. Blue Owl exceeded quarterly expectations with adjusted EPS of $0.34 versus $0.32 estimated and revenue of $396 million.
• Blue Owl declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and an 11.1% yield, although its payout ratio is elevated at 221.43%.

Squarepoint Ops LLC cut its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 66.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,829 shares of the company's stock after selling 142,790 shares during the period. Squarepoint Ops LLC's holdings in Blue Owl Capital were worth $792,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Waverly Advisors LLC acquired a new position in Blue Owl Capital during the second quarter worth about $344,000. Caz Investments LP boosted its stake in shares of Blue Owl Capital by 45.3% during the second quarter. Caz Investments LP now owns 1,633,305 shares of the company's stock valued at $17,754,000 after purchasing an additional 509,000 shares in the last quarter. VPR Management LLC grew its holdings in shares of Blue Owl Capital by 2.0% during the second quarter. VPR Management LLC now owns 52,407 shares of the company's stock worth $570,000 after purchasing an additional 1,046 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Blue Owl Capital by 64.9% during the second quarter. Wedmont Private Capital now owns 23,818 shares of the company's stock worth $261,000 after purchasing an additional 9,376 shares during the last quarter. Finally, HB Wealth Management LLC boosted its position in Blue Owl Capital by 5.6% during the 2nd quarter. HB Wealth Management LLC now owns 335,367 shares of the company's stock worth $3,645,000 after buying an additional 17,832 shares during the period. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OBDC has been the subject of several analyst reports. Capital One Financial set a $13.00 price target on shares of Blue Owl Capital in a research note on Friday, July 24th. Wall Street Zen upgraded Blue Owl Capital from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Lucid Cap Mkts raised shares of Blue Owl Capital to a "strong-buy" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Blue Owl Capital has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Stock Down 1.8%

OBDC stock opened at $11.15 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The stock's 50 day simple moving average is $11.21 and its 200 day simple moving average is $11.17. The company has a market cap of $5.50 billion, a P/E ratio of 19.91 and a beta of 0.63. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $14.03.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $396.00 million during the quarter, compared to the consensus estimate of $394.23 million. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.During the same period in the prior year, the business posted $0.40 earnings per share. On average, research analysts expect that Blue Owl Capital Corporation will post 1.29 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.24 annualized dividend and a yield of 11.1%. Blue Owl Capital's payout ratio is presently 221.43%.

About Blue Owl Capital

Blue Owl Capital Corporation NYSE: OBDC is a business development company that provides financing to privately held, primarily U.S.-based middle-market companies. The company seeks to generate income and long-term capital appreciation by investing in businesses across a range of industries.

OBDC's portfolio primarily consists of first-lien senior secured loans, with additional investments in second-lien loans and, to a lesser extent, equity interests and other securities. Its financing solutions may support acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company was formerly known as Owl Rock Capital Corporation and operates under an investment management agreement with an affiliate of Blue Owl Capital, a global alternative asset manager.

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