Uptick Partners LLC Buys Shares of 119,533 Blue Owl Capital Corporation $OBDC

Uptick Partners LLC purchased a new position in shares of Blue Owl Capital Corporation (NYSE:OBDC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 119,533 shares of the company’s stock, valued at approximately $1,486,000.

Several other hedge funds have also recently added to or reduced their stakes in OBDC. IFP Advisors Inc grew its holdings in shares of Blue Owl Capital by 79.6% during the third 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 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 buying an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Blue Owl Capital in the third quarter worth about $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Blue Owl Capital during the third quarter worth about $30,000. Finally, Assetmark Inc. purchased a new stake in Blue Owl Capital during the 3rd quarter valued at about $38,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on OBDC shares. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Royal Bank Of Canada cut their price target on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Keefe, Bruyette & Woods reduced 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. Finally, Truist Financial lowered their price objective on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.71.

Blue Owl Capital Price Performance

Shares of OBDC stock opened at $11.73 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $5.82 billion, a PE ratio of 9.46 and a beta of 0.65. The firm’s 50-day moving average is $11.29 and its two-hundred day moving average is $12.08. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $439.50 million during the quarter, compared to analysts’ expectations of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. Analysts predict that Blue Owl Capital Corporation will post 1.36 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

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

Blue Owl Capital declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is 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.