Bank of America Corp DE Buys 1,544,038 Shares of Owl Rock Capital Corporation (NYSE:ORCC)
Bank of America Corp DE grew its stake in Owl Rock Capital Corporation (NYSE:ORCC) by 89.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,269,786 shares of the technology company’s stock after purchasing an additional 1,544,038 shares during the quarter. Bank of America Corp DE owned approximately 0.85% of Owl Rock Capital worth $40,316,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. State of New Jersey Common Pension Fund E lifted its holdings in Owl Rock Capital by 1,031.9% during the first quarter. State of New Jersey Common Pension Fund E now owns 330,358,096 shares of the technology company’s stock worth $330,358,000 after acquiring an additional 301,172,900 shares during the period. Regents of The University of California purchased a new stake in Owl Rock Capital in the second quarter worth $527,519,000. Strs Ohio increased its position in Owl Rock Capital by 16.3% in the second quarter. Strs Ohio now owns 8,569,886 shares of the technology company’s stock worth $105,666,000 after buying an additional 1,202,381 shares during the last quarter. Brown University increased its position in Owl Rock Capital by 2.2% in the second quarter. Brown University now owns 7,374,526 shares of the technology company’s stock worth $90,928,000 after buying an additional 160,232 shares during the last quarter. Finally, Hamilton Lane Advisors LLC increased its position in Owl Rock Capital by 101.9% in the second quarter. Hamilton Lane Advisors LLC now owns 3,133,664 shares of the technology company’s stock worth $38,638,000 after buying an additional 1,581,653 shares during the last quarter. Institutional investors and hedge funds own 35.26% of the company’s stock.
Shares of NYSE ORCC opened at $12.43 on Wednesday. The stock has a market cap of $4.78 billion, a PE ratio of 18.55 and a beta of 1.00. Owl Rock Capital Corporation has a fifty-two week low of $8.09 and a fifty-two week high of $19.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average of $12.22 and a 200-day moving average of $12.35.
The firm also recently announced a None dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, September 30th will be given a dividend of $0.39 per share. This represents a yield of 10.1%. The ex-dividend date of this dividend is Tuesday, September 29th. Owl Rock Capital’s payout ratio is 80.52%.
In other Owl Rock Capital news, major shareholder Of The University Of C. Regents sold 43,593 shares of Owl Rock Capital stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $12.73, for a total transaction of $554,938.89. Following the completion of the sale, the insider now owns 42,739,751 shares of the company’s stock, valued at $544,077,030.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Craig Packer purchased 20,700 shares of the company’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $11.94 per share, with a total value of $247,158.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 48,113 shares of company stock valued at $612,052. 2.00% of the stock is owned by company insiders.
Separately, JMP Securities initiated coverage on Owl Rock Capital in a research report on Thursday, July 9th. They issued an “outperform” rating and a $14.50 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.14.
About Owl Rock Capital
Owl Rock Capital Corporation is a business development company. The fund makes investments in senior secured or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks. It seeks to invest in middle market companies based in the United States, with EBITDA between $10 million and $250 million annually and/or annual revenue of $50 million and $2.5 billion at the time of investment.
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