Stephens Inc. AR Sells 792,380 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Stephens Inc. AR reduced its Blue Owl Capital stake by 32.2% in the fourth quarter, selling 792,380 shares and leaving it with 1,665,358 shares valued at about $20.7 million.
• Blue Owl Capital recently missed quarterly earnings and revenue estimates, reporting EPS of $0.31 versus $0.35 expected and revenue of $391 million versus $422.02 million expected.
• The company announced a quarterly dividend of $0.31 per share and a $300 million share repurchase program, while analysts currently hold a consensus rating of Moderate Buy with a $13.33 price target.

Stephens Inc. AR cut its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,665,358 shares of the company's stock after selling 792,380 shares during the period. Stephens Inc. AR owned approximately 0.33% of Blue Owl Capital worth $20,700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Spire Wealth Management boosted its holdings in Blue Owl Capital by 29.1% in the 4th quarter. Spire Wealth Management now owns 3,680 shares of the company's stock valued at $46,000 after purchasing an additional 830 shares during the period. Golden State Equity Partners boosted its holdings in Blue Owl Capital by 1.8% in the 4th quarter. Golden State Equity Partners now owns 46,405 shares of the company's stock valued at $577,000 after purchasing an additional 836 shares during the period. BlueStem Wealth Partners LLC boosted its holdings in Blue Owl Capital by 2.5% in the 3rd quarter. BlueStem Wealth Partners LLC now owns 34,465 shares of the company's stock valued at $440,000 after purchasing an additional 837 shares during the period. Trust Investment Advisors boosted its holdings in Blue Owl Capital by 1.5% in the 3rd quarter. Trust Investment Advisors now owns 59,912 shares of the company's stock valued at $765,000 after purchasing an additional 868 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in Blue Owl Capital by 2.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 35,638 shares of the company's stock valued at $455,000 after purchasing an additional 905 shares during the period. 42.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial reduced their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating for the company in a report on Monday, February 23rd. Wells Fargo & Company reduced their price target on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Wall Street Zen downgraded shares of Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods reduced their price target on shares of Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating for the company in a report on Thursday, April 16th. Finally, Zacks Research raised shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.33.

Blue Owl Capital Price Performance

NYSE:OBDC opened at $11.21 on Friday. The company has a 50-day moving average of $11.25 and a 200-day moving average of $11.99. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 16.01 and a beta of 0.64. Blue Owl Capital Corporation has a 52 week low of $10.52 and a 52 week high of $15.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). The business had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. As a group, equities research analysts anticipate that Blue Owl Capital Corporation will post 1.29 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is presently 211.43%.

Blue Owl Capital declared that its board has approved a share repurchase program on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Blue Owl Capital Profile

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.