Blue Owl Capital (NYSE:OBDC) Reaches New 1-Year Low – What’s Next?

Blue Owl Capital Corporation (NYSE:OBDC) hit a new 52-week low on Tuesday. The company traded as low as $10.15 and last traded at $10.1850, with a volume of 5004938 shares changing hands. The stock had previously closed at $10.30.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OBDC. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Capital One Financial set a $13.00 price objective on shares of Blue Owl Capital in a research note on Friday, July 24th. Finally, Lucid Cap Mkts raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Blue Owl Capital Trading Down 0.0%

The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 17.90 and a beta of 0.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $11.13 and its 200 day simple moving average is $11.10.

Blue Owl Capital (NYSE:OBDC) last released its earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. The firm had revenue of $396.00 million for the quarter, compared to analyst estimates of $394.23 million. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, research analysts expect that Blue Owl Capital Corporation will post 1.29 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 12.4%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 221.43%.

Institutional Trading of Blue Owl Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio lifted its position in Blue Owl Capital by 411.4% in the first quarter. Strs Ohio now owns 10,941,976 shares of the company’s stock valued at $121,018,000 after purchasing an additional 8,802,373 shares during the period. Private Management Group Inc. purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth about $27,012,000. Apollon Wealth Management LLC boosted its holdings in shares of Blue Owl Capital by 1,602.1% during the first quarter. Apollon Wealth Management LLC now owns 1,894,992 shares of the company’s stock worth $20,959,000 after purchasing an additional 1,783,661 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings 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 purchasing an additional 1,284,222 shares during the period. Finally, Next Capital Management LLC increased its stake in Blue Owl Capital by 610.9% during the first quarter. Next Capital Management LLC now owns 1,418,819 shares of the company’s stock worth $15,789,000 after acquiring an additional 1,219,235 shares during the last quarter. 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 middle-market companies. The company invests primarily in privately held businesses through senior secured loans, including first-lien and unitranche loans, as well as second-lien debt, subordinated debt and equity investments.

OBDC’s investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses that may have limited access to traditional financing sources.

The company was formed as Owl Rock Capital Corporation and began operations in 2016.