Sona Asset Management US LLC Takes $9.80 Million Position in Blue Owl Capital Corporation $OBDC

Sona Asset Management US LLC purchased a new stake in Blue Owl Capital Corporation (NYSE:OBDC) during the first quarter, according to its most recent filing with the SEC. The firm purchased 886,000 shares of the company’s stock, valued at approximately $9,799,000. Sona Asset Management US LLC owned 0.18% of Blue Owl Capital at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management increased its stake in Blue Owl Capital by 29.1% in the fourth quarter. Spire Wealth Management now owns 3,680 shares of the company’s stock valued at $46,000 after purchasing an additional 830 shares in the last quarter. Golden State Equity Partners boosted its position in shares of Blue Owl Capital by 1.8% during the fourth quarter. Golden State Equity Partners now owns 46,405 shares of the company’s stock worth $577,000 after purchasing an additional 836 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Blue Owl Capital by 79.6% in the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after buying an additional 929 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Blue Owl Capital by 6.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,878 shares of the company’s stock valued at $185,000 after buying an additional 964 shares in the last quarter. Finally, BlueStem Wealth Partners LLC increased its position in shares of Blue Owl Capital by 2.8% in the 4th quarter. BlueStem Wealth Partners LLC now owns 35,443 shares of the company’s stock valued at $441,000 after buying an additional 978 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OBDC. Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial lowered their price target on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Capital One Financial set a $13.00 price target on Blue Owl Capital in a research report on Friday. Keefe, Bruyette & Woods cut their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Finally, Wells Fargo & Company decreased their price objective 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. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Blue Owl Capital Stock Up 0.0%

Shares of OBDC stock opened at $10.78 on Monday. The firm’s fifty day moving average price is $10.99 and its two-hundred day moving average price is $11.37. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 1 year low of $10.52 and a 1 year high of $14.89. The firm has a market capitalization 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 analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $391.00 million for 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%. On average, equities analysts predict that Blue Owl Capital Corporation will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 annualized dividend and a yield of 11.5%. Blue Owl Capital’s dividend payout ratio is 177.14%.

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.