AlphaCore Capital LLC Acquires 46,405 Shares of Blue Owl Capital Corporation $OBDC

AlphaCore Capital LLC boosted its holdings in Blue Owl Capital Corporation (NYSE:OBDC) by 14.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,147 shares of the company’s stock after acquiring an additional 46,405 shares during the quarter. AlphaCore Capital LLC’s holdings in Blue Owl Capital were worth $4,676,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Left Brain Wealth Management LLC purchased a new stake in Blue Owl Capital in the 4th quarter valued at about $216,000. Allworth Financial LP increased its stake in Blue Owl Capital by 23.1% in the 4th quarter. Allworth Financial LP now owns 6,764 shares of the company’s stock valued at $84,000 after buying an additional 1,268 shares during the last quarter. Bayshore Capital Advisors LLC purchased a new stake in Blue Owl Capital in the 4th quarter valued at about $4,450,000. Global Wealth Management Investment Advisory Inc. increased its stake in Blue Owl Capital by 15.1% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 87,868 shares of the company’s stock valued at $1,092,000 after buying an additional 11,553 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Blue Owl Capital by 23.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 44,134 shares of the company’s stock valued at $549,000 after buying an additional 8,496 shares during the last quarter. Institutional investors own 42.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Truist Financial decreased their price objective on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wells Fargo & Company decreased their price objective on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada decreased their price objective on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Blue Owl Capital Stock Down 0.5%

Shares of NYSE:OBDC opened at $11.21 on Friday. The firm has a fifty day moving average price of $11.25 and a two-hundred day moving average price of $11.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. Blue Owl Capital Corporation has a one year low of $10.52 and a one year high of $15.19. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 16.01 and a beta of 0.64.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The firm had revenue of $391.00 million during the quarter, compared to the consensus estimate of $422.02 million. Analysts anticipate that Blue Owl Capital Corporation will post 1.29 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 211.43%.

Blue Owl Capital declared that its Board of Directors has approved a share repurchase program on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Blue Owl Capital 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.