SteelPeak Wealth LLC Acquires 7,740 Shares of Blue Owl Capital Corporation $OBDC

SteelPeak Wealth LLC grew its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 17.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,525 shares of the company’s stock after buying an additional 7,740 shares during the quarter. SteelPeak Wealth LLC’s holdings in Blue Owl Capital were worth $773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OBDC. SVB Wealth LLC bought a new position in Blue Owl Capital in the first quarter worth approximately $28,000. Zions Bancorporation National Association UT bought a new position in Blue Owl Capital in the first quarter worth approximately $59,000. Caitong International Asset Management Co. Ltd bought a new position in Blue Owl Capital in the first quarter worth approximately $61,000. Bayforest Capital Ltd bought a new position in Blue Owl Capital in the first quarter worth approximately $73,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Blue Owl Capital by 23.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 5,803 shares of the company’s stock worth $85,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Down 0.8%

Shares of NYSE OBDC opened at $12.44 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $6.36 billion, a PE ratio of 8.24 and a beta of 0.75. The stock’s fifty day simple moving average is $13.84 and its two-hundred day simple moving average is $14.18. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.73.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $485.84 million for the quarter, compared to analysts’ expectations of $480.42 million. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%. As a group, analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.01. Blue Owl Capital’s dividend payout ratio (DPR) is currently 98.01%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. LADENBURG THALM/SH SH raised Blue Owl Capital to a “strong-buy” rating in a research note on Friday, August 8th. Raymond James Financial set a $14.00 price objective on Blue Owl Capital and gave the stock an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.21.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.