Blue Owl Capital Corporation $OBDC Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,132,180 shares of the company’s stock after selling 86,176 shares during the period. HighTower Advisors LLC owned about 0.23% of Blue Owl Capital worth $12,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Blue Owl Capital by 987.0% during the second quarter. California State Teachers Retirement System now owns 178,765,063 shares of the company’s stock worth $1,943,176,000 after buying an additional 162,319,335 shares in the last quarter. Strs Ohio increased its holdings in Blue Owl Capital by 411.4% in the first quarter. Strs Ohio now owns 10,941,976 shares of the company’s stock valued at $121,018,000 after buying an additional 8,802,373 shares in the last quarter. Lalia Capital LLC purchased a new stake in shares of Blue Owl Capital during the 4th quarter worth about $37,991,000. Private Management Group Inc. purchased a new stake in shares of Blue Owl Capital during the 4th quarter worth about $27,012,000. Finally, Wells Fargo & Company MN grew its position in shares of Blue Owl Capital by 142.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,440,960 shares of the company’s stock valued at $42,771,000 after acquiring an additional 2,022,806 shares during the period. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OBDC shares. Capital One Financial set a $13.00 price target on Blue Owl Capital in a report on Friday, July 24th. Lucid Cap Mkts raised Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Truist Financial cut their price objective on 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, Wall Street Zen raised Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Blue Owl Capital Price Performance

OBDC stock opened at $11.14 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $11.19. The firm has a market capitalization of $5.50 billion, a PE ratio of 19.90 and a beta of 0.63. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $14.31.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.The business had revenue of $396.00 million for the quarter, compared to analyst estimates of $394.23 million. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities research analysts anticipate that Blue Owl Capital Corporation will post 1.29 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.1%. The ex-dividend date is Wednesday, September 30th. Blue Owl Capital’s payout ratio is presently 221.43%.

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.