Bayshore Capital Advisors LLC Takes Position in Blue Owl Capital Corporation $OBDC

Bayshore Capital Advisors LLC bought a new stake in Blue Owl Capital Corporation (NYSE:OBDC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 358,000 shares of the company’s stock, valued at approximately $4,450,000. Blue Owl Capital makes up 2.2% of Bayshore Capital Advisors LLC’s portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in OBDC. IFP Advisors Inc lifted its position in shares of Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after acquiring an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after acquiring an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Blue Owl Capital in the third quarter valued at approximately $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Blue Owl Capital in the third quarter valued at approximately $30,000. Finally, Assetmark Inc. purchased a new position in shares of Blue Owl Capital in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

OBDC stock opened at $11.18 on Thursday. The business has a fifty day moving average of $11.26 and a two-hundred day moving average of $12.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 15.97 and a beta of 0.64. Blue Owl Capital Corporation has a 52-week low of $10.52 and a 52-week high of $15.19.

Blue Owl Capital (NYSE:OBDC) last posted its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). The business had revenue of $391.00 million for the quarter, compared to analyst estimates of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. As a group, research analysts anticipate that Blue Owl Capital Corporation will post 1.29 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

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

Blue Owl Capital announced that its board has initiated a stock repurchase program on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada reduced their price objective on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Truist Financial reduced their price objective on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Wells Fargo & Company reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $13.33.

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.