Key Points
- Director Eric Kaye bought 1,000 shares of Blue Owl Capital (NYSE: OBDC) at $11.21 each, totaling $11,210, and lifted his direct ownership to 21,144 shares.
- The company recently missed first-quarter earnings estimates, reporting $0.31 per share on revenue of $391 million versus expectations of $0.35 per share and $422.02 million in revenue.
- Blue Owl Capital also approved a $300 million share buyback and declared a quarterly dividend of $0.31 per share, implying an annualized yield of about 11.1%.
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 Monday, May 11th. The stock was bought at an average cost of $11.21 per share, for a total transaction of $11,210.00. Following the completion of the purchase, the director directly owned 21,144 shares of the company's stock, valued at $237,024.24. This represents a 4.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Blue Owl Capital Trading Up 0.4%
Shares of OBDC opened at $11.17 on Wednesday. The firm's 50 day simple moving average is $11.27 and its 200 day simple moving average is $12.02. The company has a market capitalization of $5.54 billion, a P/E ratio of 15.95 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19.
Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). The company had revenue of $391.00 million during the quarter, compared to analysts' expectations of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. Sell-side analysts forecast that Blue Owl Capital Corporation will post 1.29 earnings per share for the current fiscal year.
Blue Owl Capital declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Blue Owl Capital Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is presently 211.43%.
Analysts Set New Price Targets
OBDC has been the topic of a number of recent research reports. 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 on the stock in a research report on Friday, February 20th. Wells Fargo & Company cut their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Wall Street Zen cut shares of Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday. Zacks Research upgraded shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Finally, Truist Financial cut their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. One 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.33.
Read Our Latest Stock Report on OBDC
Institutional Investors Weigh In On Blue Owl Capital
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Blue Owl Capital by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company's stock valued at $170,663,000 after purchasing an additional 757,203 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Blue Owl Capital by 6.5% during the 3rd quarter. Bank of America Corp DE now owns 13,275,411 shares of the company's stock valued at $169,527,000 after acquiring an additional 811,973 shares during the period. Strs Ohio grew its stake in shares of Blue Owl Capital by 411.4% during the 1st quarter. Strs Ohio now owns 10,941,976 shares of the company's stock valued at $121,018,000 after acquiring an additional 8,802,373 shares during the period. UBS Group AG grew its stake in shares of Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company's stock valued at $106,011,000 after acquiring an additional 2,463,080 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Blue Owl Capital by 13.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company's stock valued at $69,005,000 after acquiring an additional 659,025 shares during the period. Hedge funds and other institutional investors own 42.83% of the company's stock.
About Blue Owl Capital
(
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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