Steel Grove Capital Advisors LLC Invests $2.50 Million in Blue Owl Capital Corporation $OBDC

Key Points

• Steel Grove Capital Advisors LLC invested approximately $2.50 million in Blue Owl Capital Corporation by acquiring 174,200 shares, highlighting growing institutional interest in the company.
• Blue Owl Capital recently announced a quarterly dividend increase to $0.02 from its previous $0.01, indicating positive financial performance.
• Analysts have rated Blue Owl Capital favorably, with an average target price of $15.21 and notable upgrades to "strong-buy" by research firms.

Steel Grove Capital Advisors LLC bought a new position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 174,200 shares of the company's stock, valued at approximately $2,498,000.

Several other institutional investors have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Blue Owl Capital during the second quarter worth about $734,619,000. Oregon Public Employees Retirement Fund grew its position in shares of Blue Owl Capital by 222.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock worth $236,007,000 after purchasing an additional 11,098,695 shares in the last quarter. Cresset Asset Management LLC grew its position in shares of Blue Owl Capital by 85.8% during the first quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company's stock worth $123,979,000 after purchasing an additional 3,809,000 shares in the last quarter. Royal Bank of Canada grew its position in shares of Blue Owl Capital by 3.0% during the first quarter. Royal Bank of Canada now owns 7,608,871 shares of the company's stock worth $111,546,000 after purchasing an additional 221,571 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Blue Owl Capital by 8.4% during the first quarter. Ameriprise Financial Inc. now owns 5,190,522 shares of the company's stock worth $76,083,000 after purchasing an additional 403,784 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on OBDC. LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Raymond James Financial set a $14.00 price target on Blue Owl Capital and gave the company an "outperform" rating in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $15.21.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $12.97 on Wednesday. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 8.59 and a beta of 0.75. 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 50 day moving average price of $13.56 and a 200-day moving average price of $14.04. Blue Owl Capital Corporation has a one year low of $12.04 and a one year 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, topping analysts' consensus estimates of $0.39 by $0.01. The firm had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%. Equities analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.02 dividend. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date was Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. Blue Owl Capital's dividend payout ratio (DPR) is presently 98.01%.

Blue Owl Capital Company Profile

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.

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