Elevation Point Wealth Partners LLC Invests $8.05 Million in Blue Owl Capital Corporation $OBDC

Elevation Point Wealth Partners LLC bought a new position in Blue Owl Capital Corporation (NYSE:OBDC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 612,351 shares of the company’s stock, valued at approximately $8,046,000. Elevation Point Wealth Partners LLC owned 0.12% of Blue Owl Capital 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. Atlantic Union Bankshares Corp acquired a new position in shares of Blue Owl Capital in the 3rd quarter valued at about $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Blue Owl Capital in the third quarter valued at approximately $30,000. Assetmark Inc. purchased a new position in Blue Owl Capital in the third quarter valued at approximately $38,000. Root Financial Partners LLC acquired a new position in Blue Owl Capital during the third quarter valued at approximately $47,000. Finally, Allworth Financial LP grew its stake in Blue Owl Capital by 24,533.3% during the second quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock worth $53,000 after buying an additional 3,680 shares during the period. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $10.95 on Friday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 8.83 and a beta of 0.67. Blue Owl Capital Corporation has a one year low of $10.70 and a one year high of $15.36. The company’s 50-day simple moving average is $11.87 and its 200-day simple moving average is $12.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data 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. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%.The firm had revenue of $439.50 million during the quarter, compared to analyst estimates of $454.38 million. Equities analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital announced that its Board of Directors has authorized a share buyback program on Wednesday, February 18th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Blue Owl Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 13.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital’s dividend payout ratio is currently 119.35%.

Analysts Set New Price Targets

OBDC has been the subject of a number of research 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. Truist Financial decreased their target price on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Royal Bank Of Canada dropped their target price on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Keefe, Bruyette & Woods reduced their price target on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a research report on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.06.

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.