Bank of New York Mellon Corp Increases Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Bank of New York Mellon Corp boosted its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 104.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 80,539 shares of the company’s stock after acquiring an additional 41,172 shares during the period. Bank of New York Mellon Corp’s holdings in Blue Owl Capital were worth $1,218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake in shares of Blue Owl Capital by 192.2% in the fourth quarter. Fifth Third Bancorp now owns 2,922 shares of the company’s stock worth $44,000 after acquiring an additional 1,922 shares during the last quarter. National Bank of Canada FI boosted its stake in Blue Owl Capital by 144.7% during the 3rd quarter. National Bank of Canada FI now owns 4,160 shares of the company’s stock worth $61,000 after purchasing an additional 2,460 shares during the last quarter. Westend Capital Management LLC grew its holdings in shares of Blue Owl Capital by 58.8% during the fourth quarter. Westend Capital Management LLC now owns 4,816 shares of the company’s stock worth $73,000 after buying an additional 1,784 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth $77,000. Finally, Register Financial Advisors LLC raised its position in shares of Blue Owl Capital by 19.9% in the fourth quarter. Register Financial Advisors LLC now owns 12,261 shares of the company’s stock valued at $185,000 after buying an additional 2,033 shares during the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OBDC shares. Keefe, Bruyette & Woods upgraded Blue Owl Capital from a “moderate sell” rating to a “hold” rating in a research report on Friday, February 21st. JMP Securities reissued an “outperform” rating on shares of Blue Owl Capital in a research note on Tuesday, February 4th. Wells Fargo & Company raised Blue Owl Capital from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Monday, March 17th. Finally, Citizens Jmp raised shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.17.

Insider Activity at Blue Owl Capital

In related news, Director Chris Temple purchased 15,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $14.80 per share, for a total transaction of $222,000.00. Following the completion of the purchase, the director now directly owns 51,000 shares of the company’s stock, valued at approximately $754,800. This trade represents a 41.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.12% of the stock is currently owned by corporate insiders.

Blue Owl Capital Stock Up 1.7 %

Shares of OBDC opened at $15.24 on Tuesday. The company’s 50-day simple moving average is $15.03 and its 200-day simple moving average is $15.02. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.19. Blue Owl Capital Co. has a 1 year low of $13.98 and a 1 year high of $16.91. The stock has a market capitalization of $7.79 billion, a PE ratio of 9.96 and a beta of 0.85.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $394.39 million for the quarter, compared to analyst estimates of $395.24 million. Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. Analysts forecast that Blue Owl Capital Co. 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 Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.31%. Blue Owl Capital’s dividend payout ratio (DPR) is currently 96.73%.

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.