MAI Capital Management Sells 48,174 Shares of Blue Owl Capital Corporation $OBDC

MAI Capital Management lowered its position in Blue Owl Capital Corporation (NYSE:OBDC) by 6.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 732,867 shares of the company’s stock after selling 48,174 shares during the quarter. MAI Capital Management’s holdings in Blue Owl Capital were worth $10,509,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Blue Owl Capital by 7.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,479,913 shares of the company’s stock valued at $35,562,000 after buying an additional 167,123 shares in the last quarter. Entropy Technologies LP purchased a new stake in Blue Owl Capital in the 2nd quarter worth $929,000. EMC Capital Management purchased a new position in shares of Blue Owl Capital during the second quarter valued at about $153,000. Greenland Capital Management LP increased its holdings in shares of Blue Owl Capital by 83.4% in the second quarter. Greenland Capital Management LP now owns 36,682 shares of the company’s stock worth $526,000 after purchasing an additional 16,682 shares during the last quarter. Finally, Perennial Investment Advisors LLC lifted its position in shares of Blue Owl Capital by 3.7% in the second quarter. Perennial Investment Advisors LLC now owns 419,418 shares of the company’s stock worth $6,014,000 after buying an additional 14,834 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $12.35 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $6.31 billion, a P/E ratio of 8.76 and a beta of 0.74. Blue Owl Capital Corporation has a 1-year low of $11.65 and a 1-year high of $15.73. The company’s 50-day moving average is $12.77 and its 200 day moving average is $13.85.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $453.07 million for the quarter, compared to analysts’ expectations of $466.81 million. Blue Owl Capital had a net margin of 36.89% and a return on equity of 10.58%. Research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 12.0%. The ex-dividend date is Wednesday, December 31st. Blue Owl Capital’s payout ratio is 104.96%.

Insider Activity at Blue Owl Capital

In other news, CEO Craig Packer purchased 83,200 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were acquired at an average price of $11.75 per share, for a total transaction of $977,600.00. Following the purchase, the chief executive officer owned 41,600 shares in the company, valued at $488,800. This trade represents a -200.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OBDC. Keefe, Bruyette & Woods decreased their price objective on Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating on the stock in a report on Monday, November 10th. Citizens Jmp lowered their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Wells Fargo & Company decreased their target price on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Finally, Zacks Research cut Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.81.

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.