Transcend Capital Advisors LLC Sells 1,135,741 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Transcend Capital Advisors sold 1,135,741 OBDC shares in the 4Q, cutting its stake by 48.6% to 1,200,133 shares (worth about $14.9M), making Blue Owl 1.2% of its portfolio.
• Blue Owl declared a $0.37 quarterly dividend (annualized $1.48) that yields 13.6% with a payout ratio of 119.35% (ex-dividend March 31, payable April 15).
• The board approved a $300 million share buyback (up to ~5.1% of shares), while analysts hold a consensus "Moderate Buy" rating with an average price target of $13.79.

Transcend Capital Advisors LLC cut its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 48.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200,133 shares of the company's stock after selling 1,135,741 shares during the quarter. Blue Owl Capital makes up 1.2% of Transcend Capital Advisors LLC's portfolio, making the stock its 14th largest position. Transcend Capital Advisors LLC owned about 0.23% of Blue Owl Capital worth $14,918,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in Blue Owl Capital during the third quarter valued at approximately $1,208,000. Van ECK Associates Corp increased its position in shares of Blue Owl Capital by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company's stock worth $170,663,000 after purchasing an additional 757,203 shares during the last quarter. Caz Investments LP acquired a new position in shares of Blue Owl Capital during the 3rd quarter worth approximately $14,357,000. Border to Coast Pensions Partnership Ltd raised its stake in shares of Blue Owl Capital by 19.2% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,550,000 shares of the company's stock worth $19,793,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Blue Owl Capital by 11.4% in the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company's stock valued at $47,665,000 after buying an additional 387,347 shares during the last quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on OBDC shares. Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $13.50 to $12.50 and set a "market perform" rating for the company in a research note on Monday, February 23rd. Royal Bank Of Canada dropped their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. Wall Street Zen raised shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Zacks Research upgraded shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Finally, Truist Financial dropped their target price on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Blue Owl Capital presently has a consensus rating of "Moderate Buy" and an average price target of $13.79.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC opened at $10.92 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $5.42 billion, a P/E ratio of 8.80 and a beta of 0.65. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19. The stock has a 50 day moving average of $11.29 and a 200-day moving average of $12.18.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%.The business had revenue of $439.50 million during the quarter, compared to the consensus estimate of $454.38 million. As a group, equities research analysts predict that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date is Tuesday, March 31st. Blue Owl Capital's dividend payout ratio (DPR) is currently 119.35%.

Blue Owl Capital declared that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication 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.

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