Evoke Wealth LLC Purchases 165,177 Shares of Blue Owl Capital Corporation $OBDC

Evoke Wealth LLC increased its position in Blue Owl Capital Corporation (NYSE:OBDC) by 1,575.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,662 shares of the company’s stock after purchasing an additional 165,177 shares during the quarter. Evoke Wealth LLC’s holdings in Blue Owl Capital were worth $2,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after purchasing an additional 929 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in 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 purchasing an additional 1,320 shares during the period. Atlantic Union Bankshares Corp bought a new position in Blue Owl Capital in the third quarter worth $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital in the third quarter worth $30,000. Finally, Assetmark Inc. bought a new position in Blue Owl Capital in the third quarter worth $38,000. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $11.02 on Friday. The stock has a 50-day simple moving average of $11.22 and a 200 day simple moving average of $11.92. 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 12-month low of $10.52 and a 12-month high of $15.19. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 15.74 and a beta of 0.64.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $422.02 million. On average, research analysts anticipate that Blue Owl Capital Corporation will post 1.27 earnings per share for the current fiscal year.

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

Blue Owl Capital Cuts Dividend

The firm also recently declared 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Capital’s payout ratio is currently 211.43%.

Analyst Ratings Changes

A number of brokerages have issued reports on OBDC. 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 report on Tuesday. Wall Street Zen cut Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Wells Fargo & Company cut their price objective on 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. Finally, Keefe, Bruyette & Woods cut their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

About Blue Owl Capital

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.