Callodine's Broad Market Plays
Callodine Capital Management Boosts Holdings and Opens New Positions Across Diverse Companies
Anonymous
Key Points
1
In addition to Callodine's stake, several other hedge funds opened new positions in Blue Owl Technology Finance Corp (OTF) during the first quarter, including Newbridge Financial Services Group, Clearstead Advisors LLC, Abel Hall LLC, Kestra Advisory Services LLC, and Cornerstone Partners Capital Management LLC.
2
Analysts adjusted Blue Owl Technology Finance after the quarter, with RBC lowering the target price from 14.00 to 12.00 and assigning a sector perform rating; Truist reduced its target from 16.00 to 15.00 with a buy rating; Citizens JMP cut from 17.00 to 16.00 with a market outperform rating; KBW lowered from 13.00 to 12.00 with a market perform rating; Zacks Research upgraded the stock.
3
Blue Owl Capital Corporation (OBDC) saw further institutional activity beyond Callodine, including Goldman Sachs Group Inc. increasing its stake by 25% to 1,924,363 shares, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC taking a new stake, and overall hedge funds accounting for about 42.83% of the stock.
4
In FS KKR Capital Corp. (FSK), Callodine purchased 1,334,709 shares valued at about $13.59 million; other institutions also boosted positions, including Inceptionr LLC (up 126.7% to 72,112 shares), Lido Advisors (up 6.3% to 626,540 shares), and Millennium Capital Advisors (up 29.4%), with institutions owning about 36.26% of the stock.
5
TripAdvisor Inc. (TRIP) also drew new money from Callodine (576,249 shares worth about $6.14 million) and, beyond Callodine, several other institutions increased their TRIP holdings, including Essex Financial Services (+4.5%), Northwestern Mutual Wealth Management Co. (+13.0% in the 4th quarter), and Illinois Municipal Retirement Fund (+2.0% in the 1st quarter).
Callodine Capital Management LP made a series of bold moves in the first quarter, expanding stakes across financial and consumer companies, according to Watchlist News. The firm's biggest new bet was 1,334,709 shares of FS KKR Capital Corp. (FSK), worth about $13.59 million.
The fund also lifted its position in Blue Owl Capital Corporation (OBDC) by 50% to 450,000 shares, valued at roughly $4.98 million. And it opened a brand-new position in TripAdvisor (TRIP), buying 576,249 shares for about $6.14 million, per Ticker Report.
Callodine Pours $13.6 Million Into FS KKR Capital
The largest single move was in FS KKR Capital Corp. (FSK). Callodine bought 1,334,709 shares at a cost of roughly $13.59 million. That makes FSK the firm's biggest new commitment this quarter by dollar value.
Callodine was not alone. Other institutions also added to FSK positions. Inceptionr LLC grew its stake by 126.7% to 72,112 shares. Lido Advisors raised its holding by 6.3% to 626,540 shares. Millennium Capital Advisors boosted its position by 29.4%. Institutions now own about 36.26% of the stock, according to Ticker Report.
Blue Owl Bets Grow as Analysts Cut Price Targets
Callodine added 175,000 shares of Blue Owl Technology Finance Corp. (OTF), worth about $2.17 million. It also raised its stake in Blue Owl Capital Corporation (OBDC) by 50%, bringing its total to 450,000 shares worth $4.98 million, per Watchlist News.
Analysts turned more cautious on OTF after the quarter closed. RBC cut its price target from $14.00 to $12.00, keeping a sector perform rating. Truist trimmed its target from $16.00 to $15.00 but held a buy rating. KBW also lowered its target, from $13.00 to $12.00. Zacks Research bucked the trend and upgraded the stock. Meanwhile, Goldman Sachs raised its OBDC stake by 25% to 1,924,363 shares, showing big-money confidence in that name.
Callodine Opens Fresh Position in TripAdvisor
Callodine started a brand-new stake in TripAdvisor (TRIP), picking up 576,249 shares valued at about $6.14 million. This was a clean entry — the firm had no prior position in the travel company.
Other institutions also moved into TRIP. Essex Financial Services grew its holding by 4.5%. Illinois Municipal Retirement Fund added 2.0% to its position in the first quarter. Northwestern Mutual Wealth Management raised its stake by 13.0% in the fourth quarter of last year. The broad interest suggests growing institutional confidence in TripAdvisor heading into the summer travel season.
Millrose Properties Stake Tops $21 Million After Big Add
Callodine also made a sizable move in Millrose Properties (MRP). The firm bought 400,745 additional shares, bringing its total position to 762,392 shares. At current prices, that stake is worth roughly $21.35 million — the largest single holding disclosed in the round of filings, per Watchlist News.
On the other side, Callodine did trim at least one position. It sold 96,544 shares of Barings BDC (BBDC), cutting that stake by 27.1%. The fund now holds 260,000 shares of BBDC, according to Ticker Report. The move shows the firm is not simply buying everything — it is rotating money from some names into others.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
15
Articles
10
Reach
25
A
AnonymousAuthor
