Naviter Wealth LLC Sells 106,896 Shares of Blue Owl Capital Corporation $OBDC

Naviter Wealth LLC lowered its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 31.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,605 shares of the company’s stock after selling 106,896 shares during the quarter. Naviter Wealth LLC’s holdings in Blue Owl Capital were worth $3,010,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Blue Owl Capital by 6.0% in the 3rd 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 increased its stake in shares of Blue Owl Capital by 6.5% in 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 in the last quarter. UBS Group AG increased its stake in shares of Blue Owl Capital by 12.7% in the 3rd quarter. UBS Group AG now owns 6,065,592 shares of the company’s stock valued at $77,458,000 after acquiring an additional 681,444 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Blue Owl Capital by 13.7% in 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 in the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Blue Owl Capital by 11.4% in the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock valued at $47,665,000 after acquiring an additional 387,347 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

OBDC opened at $10.90 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 8.79 and a beta of 0.65. The firm’s fifty day moving average price is $11.38 and its two-hundred day moving average price is $12.25. 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 posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $439.50 million for the quarter, compared to the consensus estimate of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. As a group, analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital’s payout ratio is currently 119.35%.

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Truist Financial decreased their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Royal Bank Of Canada decreased their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating for the company in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Blue Owl Capital has an average rating of “Moderate Buy” and an average price target of $14.06.

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.