Tradition Wealth Management LLC Reduces Stake in Blue Owl Capital Corporation $OBDC

Tradition Wealth Management LLC trimmed its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,785 shares of the company’s stock after selling 51,843 shares during the quarter. Tradition Wealth Management LLC’s holdings in Blue Owl Capital were worth $2,036,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OBDC. Lalia Capital LLC acquired a new position in shares of Blue Owl Capital during the 4th quarter worth approximately $37,991,000. Closed End Fund Advisors Inc. acquired a new stake in shares of Blue Owl Capital during the fourth quarter valued at $4,609,000. TT Capital Management LLC increased its position in Blue Owl Capital by 5.4% during the 4th quarter. TT Capital Management LLC now owns 308,480 shares of the company’s stock worth $3,834,000 after purchasing an additional 15,913 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Blue Owl Capital by 85.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 27,102 shares of the company’s stock worth $337,000 after purchasing an additional 12,516 shares in the last quarter. Finally, Intellectus Partners LLC raised its stake in Blue Owl Capital by 5.3% in the 4th quarter. Intellectus Partners LLC now owns 180,096 shares of the company’s stock valued at $2,305,000 after purchasing an additional 9,139 shares during the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OBDC. Wells Fargo & Company lowered their price target on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Royal Bank Of Canada lowered 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 note on Friday, February 20th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Blue Owl Capital Price Performance

OBDC opened at $11.03 on Monday. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $15.19. The company’s 50 day simple moving average is $11.21 and its 200 day simple moving average is $11.84. The stock has a market capitalization of $5.47 billion, a PE ratio of 15.75 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results 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). The company had revenue of $391.00 million for the quarter, compared to analysts’ expectations of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. As a group, sell-side analysts expect 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. Investors of record on Tuesday, June 30th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a yield of 11.2%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 211.43%.

Blue Owl Capital announced that its board has initiated a share buyback plan on Wednesday, February 18th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Blue Owl Capital 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.