Turtle Creek Wealth Advisors LLC Buys 165,926 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

Turtle Creek Wealth Advisors LLC lifted its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 930.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,753 shares of the company's stock after purchasing an additional 165,926 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Blue Owl Capital were worth $2,694,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OBDC. Golden State Equity Partners lifted its position in shares of Blue Owl Capital by 1.7% during the first quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock valued at $670,000 after buying an additional 742 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Blue Owl Capital by 6.1% during the first quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock valued at $204,000 after buying an additional 798 shares during the last quarter. Essex Financial Services Inc. lifted its position in shares of Blue Owl Capital by 3.3% during the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock valued at $459,000 after buying an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Blue Owl Capital by 9.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock valued at $197,000 after buying an additional 1,083 shares during the last quarter. Finally, Tranquility Partners LLC lifted its position in shares of Blue Owl Capital by 0.8% during the first quarter. Tranquility Partners LLC now owns 153,391 shares of the company's stock valued at $2,249,000 after buying an additional 1,210 shares during the last quarter. 42.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on OBDC. B. Riley began coverage on shares of Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price target for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. Finally, Jefferies Financial Group initiated coverage on shares of Blue Owl Capital in a research report on Friday, April 11th. They issued a "buy" rating and a $16.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $15.64.

Insider Activity at Blue Owl Capital

In other news, Director Victor Woolridge acquired 6,915 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average price of $14.45 per share, with a total value of $99,921.75. Following the purchase, the director directly owned 28,191 shares of the company's stock, valued at $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC opened at $14.66 on Monday. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.87. The company's 50 day moving average is $14.46 and its 200 day moving average is $14.60. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. The company has a market cap of $7.49 billion, a PE ratio of 9.46 and a beta of 0.72.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. The business had revenue of $464.65 million during the quarter, compared to analyst estimates of $457.88 million. On average, sell-side analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.01 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital's payout ratio is 95.48%.

About Blue Owl Capital

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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