NewEdge Wealth LLC Buys 340,861 Shares of Blue Owl Capital Corporation $OBDC

NewEdge Wealth LLC lifted its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 81.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 758,426 shares of the company’s stock after acquiring an additional 340,861 shares during the quarter. NewEdge Wealth LLC’s holdings in Blue Owl Capital were worth $8,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OBDC. Bulldog Investors LLP boosted its position in Blue Owl Capital by 42.0% during the first quarter. Bulldog Investors LLP now owns 338,369 shares of the company’s stock valued at $3,742,000 after purchasing an additional 100,094 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of Blue Owl Capital by 43.0% during the 1st quarter. Johnson Financial Group Inc. now owns 569,764 shares of the company’s stock worth $6,497,000 after purchasing an additional 171,374 shares during the last quarter. Next Capital Management LLC increased its position in shares of Blue Owl Capital by 610.9% during the 1st quarter. Next Capital Management LLC now owns 1,418,819 shares of the company’s stock worth $15,789,000 after purchasing an additional 1,219,235 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Blue Owl Capital during the 1st quarter worth approximately $96,000. Finally, Independent Financial Group LLC bought a new stake in shares of Blue Owl Capital during the 1st quarter worth approximately $1,925,000. Institutional investors own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OBDC shares. Truist Financial cut their price objective 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. Wall Street Zen lowered shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods cut their price target 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. Finally, 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 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 given a Hold rating to the stock. According to data from MarketBeat.com, Blue Owl Capital presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Blue Owl Capital Price Performance

NYSE:OBDC opened at $10.72 on Friday. Blue Owl Capital Corporation has a 12-month low of $10.52 and a 12-month high of $14.98. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 15.32 and a beta of 0.62. The stock’s 50 day moving average price is $11.00 and its two-hundred day moving average price is $11.38. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18.

Blue Owl Capital (NYSE:OBDC) last issued its 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). The business had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. On average, analysts anticipate that Blue Owl Capital Corporation will post 1.27 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.6%. Blue Owl Capital’s dividend payout ratio (DPR) is currently 177.14%.

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.