Blue Owl Capital (NYSE:OBDC) Hits New 52-Week Low – Should You Sell?

Blue Owl Capital Corporation (NYSE:OBDC)’s share price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $10.52 and last traded at $10.5950, with a volume of 275800 shares changing hands. The stock had previously closed at $10.81.

Analyst Upgrades and Downgrades

OBDC has been the topic of several analyst reports. Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Lucid Cap Mkts raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Capital One Financial set a $13.00 price objective on shares of Blue Owl Capital in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Blue Owl Capital Stock Down 2.5%

The firm has a 50 day moving average of $11.20 and a 200 day moving average of $11.15. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 18.83 and a beta of 0.63. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.12.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, beating 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 business had revenue of $396.00 million during the quarter, compared to analyst estimates of $394.23 million. During the same period in the previous year, the company posted $0.40 EPS. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Capital’s payout ratio is currently 14.29%.

Institutional Trading of Blue Owl Capital

Several institutional investors and hedge funds have recently made changes to their positions in OBDC. Envestnet Asset Management Inc. raised its position in Blue Owl Capital by 406.9% in the second quarter. Envestnet Asset Management Inc. now owns 489,975 shares of the company’s stock worth $5,326,000 after acquiring an additional 393,311 shares during the period. State Street Corp grew its position in shares of Blue Owl Capital by 17.8% during the 2nd quarter. State Street Corp now owns 732,566 shares of the company’s stock valued at $8,189,000 after acquiring an additional 110,908 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Blue Owl Capital by 178.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,418 shares of the company’s stock worth $450,000 after purchasing an additional 26,530 shares during the last quarter. Palogic Value Management L.P. raised its holdings in shares of Blue Owl Capital by 12.1% in the 2nd quarter. Palogic Value Management L.P. now owns 172,238 shares of the company’s stock worth $1,872,000 after purchasing an additional 18,613 shares during the period. Finally, Cidel Asset Management Inc. bought a new stake in shares of Blue Owl Capital in the 2nd quarter worth approximately $531,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE: OBDC) is a business development company that provides financing to privately held, primarily U.S.-based middle-market companies. The company seeks to generate income and long-term capital appreciation by investing in businesses across a range of industries.

OBDC’s portfolio primarily consists of first-lien senior secured loans, with additional investments in second-lien loans and, to a lesser extent, equity interests and other securities. Its financing solutions may support acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company was formerly known as Owl Rock Capital Corporation and operates under an investment management agreement with an affiliate of Blue Owl Capital, a global alternative asset manager.