Uptick Partners LLC Buys New Holdings in Blue Owl Capital Corporation $OBDC

Key Points

• Uptick Partners LLC initiated a new position in Blue Owl Capital (NYSE:OBDC) in Q4, buying 119,533 shares worth about $1.49 million.
• Blue Owl paid a quarterly dividend of $0.37 (annualized $1.48) for a 12.6% yield, but the dividend payout ratio is 119.35%; the board also authorized a $300 million buyback (up to ~5.1% of shares).
• Analysts are mixed but the consensus is a Moderate Buy with an average price target of $13.71.

Uptick Partners LLC purchased a new position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 119,533 shares of the company's stock, valued at approximately $1,486,000.

A number of other institutional investors also recently bought and sold shares of OBDC. Caitong International Asset Management Co. Ltd increased its stake in shares of Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock worth $27,000 after acquiring an additional 1,320 shares during the period. IFP Advisors Inc lifted its position in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock valued at $27,000 after purchasing an additional 929 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Blue Owl Capital during the third quarter valued at $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Blue Owl Capital in the third quarter valued at $30,000. Finally, Assetmark Inc. purchased a new stake in Blue Owl Capital in the third quarter valued at $38,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Blue Owl Capital from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Royal Bank Of Canada lowered their target price on Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. Truist Financial dropped their target price on Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Zacks Research raised Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods lowered their price objective on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.71.

Blue Owl Capital Trading Up 4.0%

Shares of Blue Owl Capital stock opened at $11.73 on Friday. The firm has a 50-day simple moving average of $11.29 and a two-hundred day simple moving average of $12.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.19. The company has a market cap of $5.82 billion, a P/E ratio of 9.46 and a beta of 0.65.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $439.50 million for the quarter, compared to analysts' expectations of $454.38 million. As a group, equities analysts predict that Blue Owl Capital Corporation will post 1.36 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend was Tuesday, March 31st. Blue Owl Capital's dividend payout ratio (DPR) is presently 119.35%.

Blue Owl Capital declared that its board has authorized a stock repurchase program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Blue Owl Capital Company 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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