HB Wealth Management LLC Purchases 856,735 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

HB Wealth Management LLC increased its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 311.3% in the first quarter, Holdings Channel reports. The institutional investor owned 1,131,920 shares of the company’s stock after buying an additional 856,735 shares during the period. HB Wealth Management LLC’s holdings in Blue Owl Capital were worth $16,594,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OBDC. Oregon Public Employees Retirement Fund boosted its stake in shares of Blue Owl Capital by 222.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company’s stock worth $236,007,000 after buying an additional 11,098,695 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Blue Owl Capital by 8,188.9% during the 4th quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company’s stock worth $68,762,000 after buying an additional 4,385,987 shares during the last quarter. Trustees of Dartmouth College acquired a new position in shares of Blue Owl Capital during the 1st quarter worth about $48,774,000. Raymond James Financial Inc. acquired a new position in shares of Blue Owl Capital during the 4th quarter worth about $28,434,000. Finally, Enstar Group LTD acquired a new position in shares of Blue Owl Capital during the 4th quarter worth about $10,139,000. 42.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OBDC. Wells Fargo & Company reduced their price objective on shares of Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada restated an “outperform” rating and set a $16.00 price objective on shares of Blue Owl Capital in a research note on Thursday, May 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. B. Riley initiated coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Blue Owl Capital in a research note on Friday, April 11th. They set a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.64.

Blue Owl Capital Stock Performance

OBDC opened at $14.84 on Friday. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.86. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 9.57 and a beta of 0.72. The business has a 50 day moving average of $14.60 and a 200-day moving average of $14.59. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. The business had revenue of $464.65 million during the quarter, compared to analyst estimates of $457.88 million. On average, equities research analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.01 per share. This represents a dividend yield of 11.51%. The ex-dividend date was Friday, May 30th. Blue Owl Capital’s dividend payout ratio is presently 95.48%.

Insider Activity

In other news, Director Victor Woolridge acquired 6,915 shares of Blue Owl Capital stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the acquisition, the director directly owned 28,191 shares in the company, valued at approximately $407,359.95. The trade was a 32.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.