Wealthfront Advisers LLC Invests $328,000 in Blue Owl Capital Corporation $OBDC

Wealthfront Advisers LLC bought a new position in Blue Owl Capital Corporation (NYSE:OBDC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,898 shares of the company’s stock, valued at approximately $328,000.

Other institutional investors have also recently modified their holdings of the company. Hamilton Lane Advisors LLC purchased a new stake in shares of Blue Owl Capital in the second quarter worth $48,845,000. Graypoint LLC grew its stake in shares of Blue Owl Capital by 49.4% in the second quarter. Graypoint LLC now owns 590,048 shares of the company’s stock worth $8,461,000 after acquiring an additional 194,999 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Blue Owl Capital in the second quarter worth $734,619,000. Integrated Wealth Concepts LLC grew its stake in shares of Blue Owl Capital by 217.9% in the first quarter. Integrated Wealth Concepts LLC now owns 43,069 shares of the company’s stock worth $631,000 after acquiring an additional 29,521 shares during the last quarter. Finally, Trinity Financial Advisors LLC grew its stake in shares of Blue Owl Capital by 2.3% in the second quarter. Trinity Financial Advisors LLC now owns 1,150,853 shares of the company’s stock worth $16,929,000 after acquiring an additional 25,377 shares during the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Up 1.8%

OBDC stock opened at $13.05 on Friday. Blue Owl Capital Corporation has a fifty-two week low of $12.04 and a fifty-two week high of $15.73. The business’s 50-day moving average is $13.38 and its two-hundred day moving average is $14.04. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 8.64 and a beta of 0.75.

Blue Owl Capital (NYSE:OBDC) last posted its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%.The company had revenue of $485.84 million for the quarter, compared to the consensus estimate of $480.42 million. As a group, analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.02 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 29th. Blue Owl Capital’s dividend payout ratio is currently 98.01%.

Wall Street Analyst Weigh In

OBDC has been the topic of a number of research analyst reports. Zacks Research downgraded Blue Owl Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. LADENBURG THALM/SH SH raised Blue Owl Capital to a “strong-buy” rating in a report on Friday, August 8th. Finally, Raymond James Financial set a $14.00 price target on Blue Owl Capital and gave the company an “outperform” rating in a report on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.21.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.