Callodine Capital Management LP Increases Stake in Blue Owl Capital Corporation $OBDC

Callodine Capital Management LP lifted its position in Blue Owl Capital Corporation (NYSE:OBDC) by 50.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 450,000 shares of the company’s stock after buying an additional 150,000 shares during the period. Callodine Capital Management LP’s holdings in Blue Owl Capital were worth $4,977,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OBDC. Goldman Sachs Group Inc. grew its holdings in Blue Owl Capital by 25.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock worth $28,211,000 after acquiring an additional 384,641 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Blue Owl Capital in the 1st quarter valued at about $6,641,000. EverSource Wealth Advisors LLC lifted its position in shares of Blue Owl Capital by 106.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock worth $125,000 after purchasing an additional 4,494 shares during the period. Squarepoint Ops LLC lifted its position in shares of Blue Owl Capital by 133.8% in the 2nd quarter. Squarepoint Ops LLC now owns 93,691 shares of the company’s stock worth $1,344,000 after purchasing an additional 53,613 shares during the period. Finally, Diversify Advisory Services LLC boosted its stake in shares of Blue Owl Capital by 24.1% during the second quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company’s stock valued at $235,000 after purchasing an additional 3,200 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Up 0.7%

Shares of Blue Owl Capital stock opened at $10.78 on Friday. The firm’s 50 day moving average price is $10.99 and its 200-day moving average price is $11.38. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 52-week low of $10.52 and a 52-week high of $14.89. The company has a market cap of $5.35 billion, a P/E ratio of 15.39 and a beta of 0.62.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data 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 firm had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. On average, sell-side analysts predict that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.5%. Blue Owl Capital’s dividend payout ratio is presently 177.14%.

Analysts Set New Price Targets

A number of brokerages recently commented on OBDC. Truist Financial reduced their price objective on shares of 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. Keefe, Bruyette & Woods dropped their target price 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. Capital One Financial set a $13.00 price target on Blue Owl Capital in a report on Friday. Wells Fargo & Company reduced their price target on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned 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 price target of $13.00.

Blue Owl Capital Company 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.