Verus Capital Partners LLC Lowers Position in Blue Owl Capital Corporation $OBDC

Verus Capital Partners LLC cut its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,603 shares of the company’s stock after selling 51,665 shares during the period. Verus Capital Partners LLC’s holdings in Blue Owl Capital were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. UBS Group AG increased its position in shares of Blue Owl Capital by 40.6% during the fourth 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 last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Blue Owl Capital in the 3rd quarter worth about $25,266,000. Marshall Wace LLP bought a new position in Blue Owl Capital during the third quarter valued at about $17,818,000. Bank of America Corp DE boosted its stake in Blue Owl Capital by 6.5% in the third 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 last quarter. Finally, Van ECK Associates Corp boosted its stake in Blue Owl Capital by 6.0% in the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after acquiring an additional 757,203 shares during the last quarter. 42.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on OBDC shares. Wells Fargo & Company lowered their price target 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. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Truist Financial decreased their target price on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods dropped their price target on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Blue Owl Capital Stock Performance

NYSE OBDC opened at $11.32 on Friday. The company’s 50 day simple moving average is $11.22 and its two-hundred day simple moving average is $11.84. The stock has a market capitalization of $5.62 billion, a PE ratio of 16.16 and a beta of 0.62. 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) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). The firm had revenue of $391.00 million during 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%. Analysts predict that Blue Owl Capital Corporation will post 1.27 earnings per share for the current fiscal year.

Blue Owl Capital announced that its board has initiated a share repurchase program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Blue Owl Capital Cuts Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.0%. Blue Owl Capital’s payout ratio is presently 211.43%.

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.