Enstar Group LTD Sells 143,522 Shares of Blue Owl Capital Corporation $OBDC

Enstar Group LTD lowered its position in Blue Owl Capital Corporation (NYSE:OBDC) by 19.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 584,580 shares of the company’s stock after selling 143,522 shares during the quarter. Blue Owl Capital makes up 2.8% of Enstar Group LTD’s investment portfolio, making the stock its 8th biggest position. Enstar Group LTD’s holdings in Blue Owl Capital were worth $7,266,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OBDC. IFP Advisors Inc lifted its holdings in Blue Owl Capital by 79.6% in the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after buying an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Blue Owl Capital by 166.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock worth $27,000 after buying an additional 1,320 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Blue Owl Capital in the 3rd quarter worth $30,000. Assetmark Inc. acquired a new position in Blue Owl Capital in the 3rd quarter worth $38,000. Finally, FNY Investment Advisers LLC acquired a new position in Blue Owl Capital in the 4th quarter worth $44,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC opened at $11.20 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.19. The firm has a 50-day simple moving average of $11.23 and a 200 day simple moving average of $11.81. The company has a market cap of $5.56 billion, a PE ratio of 15.99 and a beta of 0.62.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The business had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. On average, sell-side analysts anticipate that Blue Owl Capital Corporation will post 1.27 EPS for the current year.

Blue Owl Capital Cuts Dividend

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

Blue Owl Capital declared that its board has initiated a share repurchase plan on Wednesday, February 18th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

OBDC has been the subject of several research analyst reports. Zacks Research raised shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Royal Bank Of Canada dropped their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Wall Street Zen downgraded shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Truist Financial dropped their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

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.