Verus Capital Partners LLC Cuts Stock Position in Blue Owl Capital Corporation $OBDC

Verus Capital Partners LLC lowered its position in Blue Owl Capital Corporation (NYSE:OBDC) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,603 shares of the company’s stock after selling 51,665 shares during the quarter. Verus Capital Partners LLC’s holdings in Blue Owl Capital were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in OBDC. Goldman Sachs Group Inc. boosted its position in Blue Owl Capital by 25.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock valued at $28,211,000 after buying an additional 384,641 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 first quarter worth about $6,641,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Blue Owl Capital by 106.1% during the second quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock worth $125,000 after purchasing an additional 4,494 shares during the period. Squarepoint Ops LLC increased its holdings in Blue Owl Capital by 133.8% during the 2nd quarter. Squarepoint Ops LLC now owns 93,691 shares of the company’s stock valued at $1,344,000 after purchasing an additional 53,613 shares during the period. Finally, Diversify Advisory Services LLC raised its position in Blue Owl Capital by 24.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company’s stock valued at $235,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OBDC shares. Wells Fargo & Company cut their price objective on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Truist Financial dropped their price target 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. Royal Bank Of Canada cut their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $11.32 on Friday. The company has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $11.84. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 16.16 and a beta of 0.62. Blue Owl Capital Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24.

Blue Owl Capital (NYSE:OBDC) last released its earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The company had revenue of $391.00 million during the quarter, compared to analysts’ expectations of $422.02 million. Analysts expect 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 will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 11.0%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio is currently 211.43%.

Blue Owl Capital declared that its board has initiated a stock repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Blue Owl Capital Company Profile

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.