Entropy Technologies LP Buys 118,514 Shares of Blue Owl Capital Corporation $OBDC

Entropy Technologies LP increased its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 742.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,472 shares of the company’s stock after buying an additional 118,514 shares during the quarter. Entropy Technologies LP’s holdings in Blue Owl Capital were worth $1,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in Blue Owl Capital during the 3rd quarter valued at $1,208,000. Next Capital Management LLC increased its holdings in Blue Owl Capital by 407.0% during the 4th quarter. Next Capital Management LLC now owns 199,584 shares of the company’s stock valued at $2,488,000 after purchasing an additional 160,221 shares in the last quarter. Van ECK Associates Corp increased its holdings in 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 in the last quarter. Tectonic Advisors LLC increased its holdings in Blue Owl Capital by 13.0% during the 4th quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company’s stock valued at $12,975,000 after purchasing an additional 119,798 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Blue Owl Capital by 11.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock valued at $47,665,000 after purchasing an additional 387,347 shares in the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Trading Down 1.2%

OBDC opened at $11.05 on Tuesday. The firm’s fifty day moving average is $11.23 and its two-hundred day moving average is $11.79. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $5.48 billion, a PE ratio of 15.78 and a beta of 0.62. Blue Owl Capital Corporation has a twelve month low of $10.52 and a twelve month high of $15.19.

Blue Owl Capital (NYSE:OBDC) last posted its 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 analyst estimates of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. Equities research analysts anticipate that Blue Owl Capital Corporation will post 1.27 EPS for the current year.

Blue Owl Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.2%. Blue Owl Capital’s dividend payout ratio (DPR) is 211.43%.

Blue Owl Capital announced that its board has authorized a stock buyback program on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

OBDC has been the subject of a number of recent analyst reports. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Royal Bank Of Canada reduced their price objective on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wells Fargo & Company lowered their target price on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Finally, Keefe, Bruyette & Woods dropped their target price on 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital currently has an average rating of “Moderate Buy” and an average target price 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.