Rivernorth Capital Management LLC Reduces Position in Blue Owl Capital Corporation $OBDC

Rivernorth Capital Management LLC trimmed its position in Blue Owl Capital Corporation (NYSE:OBDC) by 16.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,192,576 shares of the company’s stock after selling 234,246 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Blue Owl Capital were worth $12,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of 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 last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 buying an additional 1,320 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Blue Owl Capital during the third quarter valued at $30,000. FNY Investment Advisers LLC grew its stake in Blue Owl Capital by 440.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company’s stock worth $29,000 after acquiring an additional 2,200 shares in the last quarter. Finally, AG Campbell Advisory LLC bought a new stake in Blue Owl Capital during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Blue Owl Capital stock opened at $11.30 on Monday. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week 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 debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50-day simple moving average is $11.08 and its two-hundred day simple moving average is $11.21.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. The company had revenue of $396.00 million for the quarter, compared to the consensus estimate of $394.23 million. During the same quarter in the prior year, the company earned $0.40 EPS. Equities analysts anticipate that Blue Owl Capital Corporation will post 1.29 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is 221.43%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Lucid Cap Mkts upgraded Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Capital One Financial set a $13.00 price objective on Blue Owl Capital in a research report on Friday, July 24th. Truist Financial reduced their target price on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Wall Street Zen raised Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company 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.