Cidel Asset Management Inc. Makes New $531,000 Investment in Blue Owl Capital Corporation $OBDC

Cidel Asset Management Inc. purchased a new stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 48,830 shares of the company’s stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after buying an additional 929 shares during the period. The Manufacturers Life Insurance Company increased its stake in Blue Owl Capital by 6.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,878 shares of the company’s stock worth $185,000 after acquiring an additional 964 shares during the last quarter. BlueStem Wealth Partners LLC increased its stake in Blue Owl Capital by 2.8% during the fourth quarter. BlueStem Wealth Partners LLC now owns 35,443 shares of the company’s stock worth $441,000 after acquiring an additional 978 shares during the last quarter. Sage Investment Counsel LLC raised its position in Blue Owl Capital by 8.4% in the first quarter. Sage Investment Counsel LLC now owns 12,855 shares of the company’s stock valued at $142,000 after purchasing an additional 1,000 shares during the period. Finally, Triumph Capital Management raised its position in Blue Owl Capital by 3.9% in the second quarter. Triumph Capital Management now owns 27,235 shares of the company’s stock valued at $296,000 after purchasing an additional 1,010 shares during the period. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $11.14 on Thursday. 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 has a market cap of $5.50 billion, a price-to-earnings ratio of 19.90 and a beta of 0.63. The stock’s 50-day moving average is $11.17 and its two-hundred day moving average is $11.19. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $14.31.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $394.23 million. During the same quarter last year, the company earned $0.40 earnings per share. Analysts forecast that Blue Owl Capital Corporation will post 1.29 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date is Wednesday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 221.43%.

Analyst Upgrades and Downgrades

OBDC has been the subject of a number of research analyst reports. Truist Financial lowered their price target on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Capital One Financial set a $13.00 price objective on shares of Blue Owl Capital in a report on Friday, July 24th. 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. Finally, Lucid Cap Mkts raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Friday, July 24th. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

About Blue Owl Capital

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.