Van ECK Associates Corp Decreases Holdings in Blue Owl Capital Corporation $OBDC

Van ECK Associates Corp reduced its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 13.1% in the 2nd quarter, Holdings Channel reports. The firm owned 9,840,313 shares of the company’s stock after selling 1,481,269 shares during the quarter. Van ECK Associates Corp’s holdings in Blue Owl Capital were worth $106,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OBDC. Next Capital Management LLC grew its position in Blue Owl Capital by 407.0% during the 4th quarter. Next Capital Management LLC now owns 199,584 shares of the company’s stock valued at $2,488,000 after purchasing an additional 160,221 shares during the last quarter. UBS Group AG raised its holdings in Blue Owl Capital by 40.6% in the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after buying an additional 2,463,080 shares during the last quarter. Grange Capital LLC bought a new position in shares of Blue Owl Capital in the fourth quarter worth approximately $1,203,000. Cary Street Partners Financial LLC lifted its stake in shares of Blue Owl Capital by 207.5% in the fourth quarter. Cary Street Partners Financial LLC now owns 248,287 shares of the company’s stock worth $3,086,000 after buying an additional 167,535 shares in the last quarter. Finally, Independent Financial Group LLC purchased a new stake in shares of Blue Owl Capital during the first quarter valued at approximately $1,925,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial decreased their price objective on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Lucid Cap Mkts raised Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Wells Fargo & Company dropped their price objective on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Finally, Capital One Financial set a $13.00 price objective on Blue Owl Capital in a report on Friday, July 24th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.00.

Blue Owl Capital Trading Up 0.2%

NYSE:OBDC opened at $11.30 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $14.44. The company has a market cap of $5.57 billion, a PE ratio of 20.18 and a beta of 0.62. The company has a 50 day simple moving average of $11.08 and a two-hundred day simple moving average of $11.21.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $396.00 million for the quarter, compared to the consensus estimate of $394.23 million. During the same period last year, the business posted $0.40 EPS. Research analysts forecast that Blue Owl Capital Corporation will post 1.29 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

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 given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 221.43%.

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.