NewEdge Wealth LLC Purchases 340,861 Shares of Blue Owl Capital Corporation $OBDC

NewEdge Wealth LLC grew its position in Blue Owl Capital Corporation (NYSE:OBDC) by 81.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 758,426 shares of the company’s stock after buying an additional 340,861 shares during the period. NewEdge Wealth LLC owned approximately 0.15% of Blue Owl Capital worth $8,388,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bulldog Investors LLP raised its stake in Blue Owl Capital by 42.0% during the 1st quarter. Bulldog Investors LLP now owns 338,369 shares of the company’s stock worth $3,742,000 after buying an additional 100,094 shares during the period. Johnson Financial Group Inc. lifted its holdings in Blue Owl Capital by 43.0% during the first quarter. Johnson Financial Group Inc. now owns 569,764 shares of the company’s stock worth $6,497,000 after acquiring an additional 171,374 shares in the last quarter. Next Capital Management LLC grew its stake in Blue Owl Capital by 610.9% in the first quarter. Next Capital Management LLC now owns 1,418,819 shares of the company’s stock valued at $15,789,000 after acquiring an additional 1,219,235 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Blue Owl Capital in the first quarter valued at about $96,000. Finally, Independent Financial Group LLC bought a new stake in shares of Blue Owl Capital in the first quarter worth about $1,925,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

OBDC stock opened at $10.72 on Friday. The stock has a 50-day moving average price of $11.00 and a two-hundred day moving average price of $11.38. The stock has a market cap of $5.32 billion, a PE ratio of 15.32 and a beta of 0.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $14.98.

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 the consensus estimate of $0.35 by ($0.04). The firm had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. Equities analysts forecast that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.31 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.6%. Blue Owl Capital’s payout ratio is presently 177.14%.

Analyst Upgrades and Downgrades

OBDC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company lowered their target price on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Truist Financial lowered their target price on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, Wall Street Zen downgraded shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. One research 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 company. According to data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target 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.