State Street Corp Purchases 110,908 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• State Street increased its Blue Owl Capital position by 17.8% in the second quarter, purchasing 110,908 shares for a total of 732,566 shares valued at approximately $8.19 million. Institutional investors now own 42.83% of OBDC.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $13.00, compared with shares opening at $10.79. Blue Owl recently reported quarterly EPS of $0.34, beating estimates of $0.32.
• Blue Owl declared a quarterly dividend of $0.31 per share, payable October 15 to shareholders of record on September 30. The payment represents an annualized dividend of $1.24 and an indicated yield of approximately 11.5%.

State Street Corp lifted its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 732,566 shares of the company's stock after buying an additional 110,908 shares during the quarter. State Street Corp owned about 0.15% of Blue Owl Capital worth $8,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OBDC. The Manufacturers Life Insurance Company raised its holdings in shares of Blue Owl Capital by 178.2% during the second quarter. The Manufacturers Life Insurance Company now owns 41,418 shares of the company's stock valued at $450,000 after purchasing an additional 26,530 shares during the period. Palogic Value Management L.P. grew its stake in shares of Blue Owl Capital by 12.1% in the 2nd quarter. Palogic Value Management L.P. now owns 172,238 shares of the company's stock valued at $1,872,000 after buying an additional 18,613 shares during the period. Cidel Asset Management Inc. acquired a new stake in shares of Blue Owl Capital in the 2nd quarter valued at about $531,000. Concorde Asset Management LLC grew its stake in Blue Owl Capital by 312.7% in the second quarter. Concorde Asset Management LLC now owns 56,600 shares of the company's stock valued at $633,000 after acquiring an additional 42,885 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Blue Owl Capital by 22.9% during the second quarter. NewEdge Advisors LLC now owns 151,979 shares of the company's stock valued at $1,652,000 after acquiring an additional 28,269 shares in the last quarter. Institutional investors own 42.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OBDC shares. Lucid Cap Mkts raised shares of Blue Owl Capital to a "strong-buy" rating in a research report on Friday, July 24th. Capital One Financial set a $13.00 target price on Blue Owl Capital in a research note on Friday, July 24th. Finally, Wall Street Zen raised Blue Owl Capital from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Blue Owl Capital currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $10.79 on Friday. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $13.57. 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 company has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $11.15. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 19.28 and a beta of 0.63.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share 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 analysts' expectations 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 quarter in the previous year, the business earned $0.40 earnings per share. Analysts expect that Blue Owl Capital Corporation will post 1.29 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently announced 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. This represents a $1.24 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Capital's dividend payout ratio (DPR) is presently 14.29%.

Blue Owl Capital Company Profile

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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