Blue Owl Capital Corporation $OBDC Stock: Bayshore Capital Advisors LLC Reduces Holdings

Bayshore Capital Advisors LLC trimmed its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 22.2% in the third quarter, HoldingsChannel.com reports. The fund owned 363,505 shares of the company’s stock after selling 104,000 shares during the period. Blue Owl Capital makes up 2.0% of Bayshore Capital Advisors LLC’s investment portfolio, making the stock its 11th largest position. Bayshore Capital Advisors LLC’s holdings in Blue Owl Capital were worth $3,813,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC raised its holdings in Blue Owl Capital by 32.0% in the third quarter. Sound Income Strategies LLC now owns 5,549,823 shares of the company’s stock valued at $56,442,000 after acquiring an additional 1,345,081 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Blue Owl Capital by 71.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,085,234 shares of the company’s stock valued at $34,123,000 after buying an additional 1,284,222 shares in the last quarter. Next Capital Management LLC increased its stake in Blue Owl Capital by 610.9% in the 1st quarter. Next Capital Management LLC now owns 1,418,819 shares of the company’s stock valued at $15,789,000 after buying an additional 1,219,235 shares during the last quarter. Rivernorth Capital Management LLC increased its stake in shares of Blue Owl Capital by 181.6% in the first quarter. Rivernorth Capital Management LLC now owns 1,426,822 shares of the company’s stock worth $15,781,000 after buying an additional 920,180 shares during the period. Finally, Sona Asset Management US LLC bought a new position in shares of Blue Owl Capital during the 1st quarter valued at approximately $9,799,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Up 1.2%

NYSE OBDC opened at $10.94 on Friday. 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 company has a market capitalization of $5.39 billion, a P/E ratio of 16.08 and a beta of 0.66. The stock has a 50 day moving average price of $10.64 and a 200-day moving average price of $11.12. Blue Owl Capital Corporation has a one year low of $9.81 and a one year high of $13.57.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. The business had revenue of $392.06 million for the quarter, compared to analysts’ expectations of $383.82 million. As a group, equities analysts predict that Blue Owl Capital Corporation will post 1.30 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.3%. The ex-dividend date is Thursday, December 31st. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.01. Blue Owl Capital’s payout ratio is presently 182.35%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OBDC shares. Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial set a $11.00 price objective on Blue Owl Capital in a research note on Thursday, October 22nd. Lucid Cap Mkts upgraded 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 Blue Owl Capital in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $12.17.

Blue Owl Capital Profile

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.