Key Points
- Eric Kaye, a Blue Owl Capital director, bought 1,000 shares on Feb. 25 at an average price of $11.91, raising his stake to 20,144 shares (a 5.22% increase) worth about $239,915.
- The board authorized a $300 million share repurchase program (up to 5.1% of shares), and the company paid a quarterly dividend of $0.37 ($1.48 annualized) — a 13.2% yield with a 119.35% payout ratio.
- For the latest quarter Blue Owl reported EPS of $0.36 (beating $0.35 est.) but revenue of $439.5M missed estimates, and analysts hold a consensus Moderate Buy rating with a $13.71 price target.
Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) Director Eric Kaye bought 1,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average price of $11.91 per share, with a total value of $11,910.00. Following the purchase, the director owned 20,144 shares of the company's stock, valued at approximately $239,915.04. This represents a 5.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Blue Owl Capital Price Performance
Shares of OBDC opened at $11.19 on Tuesday. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The stock has a market cap of $5.56 billion, a PE ratio of 9.02 and a beta of 0.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a fifty day moving average price of $11.29 and a 200 day moving average price of $12.10.
Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. The firm had revenue of $439.50 million during the quarter, compared to analysts' expectations of $454.38 million. As a group, sell-side analysts anticipate that Blue Owl Capital Corporation will post 1.36 EPS for the current year.
Blue Owl Capital announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.
Blue Owl Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 13.2%. Blue Owl Capital's payout ratio is 119.35%.
Hedge Funds Weigh In On Blue Owl Capital
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BIP Wealth LLC purchased a new position in shares of Blue Owl Capital during the first quarter worth about $115,000. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Blue Owl Capital by 27.5% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 38,197 shares of the company's stock worth $422,000 after buying an additional 8,233 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Blue Owl Capital by 18.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 88,597 shares of the company's stock worth $980,000 after buying an additional 13,809 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Blue Owl Capital by 5.2% during the first quarter. Sound Income Strategies LLC now owns 3,976,748 shares of the company's stock worth $42,790,000 after buying an additional 196,847 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Blue Owl Capital by 411.4% during the first quarter. Strs Ohio now owns 10,941,976 shares of the company's stock worth $121,018,000 after buying an additional 8,802,373 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in 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, March 21st. Truist Financial reduced their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, February 23rd. Keefe, Bruyette & Woods reduced 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 report on Thursday, April 16th. Royal Bank Of Canada reduced their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. Finally, Zacks Research raised shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.71.
Check Out Our Latest Research Report on OBDC
Blue Owl Capital Company Profile
(
Get Free Report)
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.
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