Blue Owl Capital Corporation $OBDC Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC reduced its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 35.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 293,967 shares of the company’s stock after selling 158,745 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Blue Owl Capital were worth $3,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OBDC. Van ECK Associates Corp grew its position 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 in the last quarter. Bank of America Corp DE lifted its position in shares of Blue Owl Capital by 6.5% during the third quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock worth $169,527,000 after purchasing an additional 811,973 shares in the last quarter. Strs Ohio boosted its stake in shares of Blue Owl Capital by 411.4% in the first quarter. Strs Ohio now owns 10,941,976 shares of the company’s stock valued at $121,018,000 after purchasing an additional 8,802,373 shares during the period. UBS Group AG boosted its stake in shares of Blue Owl Capital by 40.6% in the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock valued at $106,011,000 after purchasing an additional 2,463,080 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in 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 purchasing an additional 659,025 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Analyst Ratings Changes

OBDC has been the topic of several analyst reports. Wells Fargo & Company dropped 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 research note on Friday, May 8th. Truist Financial lowered their target price on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen raised Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Keefe, Bruyette & Woods cut 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 note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Blue Owl Capital Price Performance

OBDC opened at $10.81 on Friday. The company has a 50-day moving average of $11.13 and a 200-day moving average of $11.56. The company has a market capitalization of $5.37 billion, a P/E ratio of 15.45 and a beta of 0.62. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $15.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly 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). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The company had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. Equities analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid 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 11.5%. Blue Owl Capital’s dividend payout ratio is presently 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.