Global Retirement Partners LLC Decreases Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Global Retirement Partners LLC trimmed its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 31.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,377 shares of the company’s stock after selling 13,202 shares during the period. Global Retirement Partners LLC’s holdings in Blue Owl Capital were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quad Cities Investment Group LLC purchased a new stake in Blue Owl Capital during the third quarter valued at approximately $148,000. nVerses Capital LLC increased its holdings in Blue Owl Capital by 19.8% during the third quarter. nVerses Capital LLC now owns 9,700 shares of the company’s stock valued at $141,000 after buying an additional 1,600 shares during the last quarter. Naviter Wealth LLC increased its holdings in Blue Owl Capital by 3.8% during the third quarter. Naviter Wealth LLC now owns 331,729 shares of the company’s stock valued at $4,956,000 after buying an additional 12,141 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Blue Owl Capital by 7.0% during the third quarter. Cornerstone Wealth Management LLC now owns 34,385 shares of the company’s stock valued at $501,000 after buying an additional 2,256 shares during the last quarter. Finally, SPC Financial Inc. purchased a new stake in Blue Owl Capital during the third quarter valued at approximately $149,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OBDC has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a research report on Monday, August 12th. Truist Financial dropped their price target on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company dropped their price target on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.94.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC opened at $15.24 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a fifty day moving average price of $14.82 and a 200 day moving average price of $15.45. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 7.69 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. The firm had revenue of $396.76 million during the quarter, compared to analyst estimates of $388.84 million. As a group, sell-side analysts expect that Blue Owl Capital Co. will post 1.91 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.06 per share. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.58%. Blue Owl Capital’s dividend payout ratio is presently 74.75%.

Insider Activity at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $15.02 per share, with a total value of $37,550.00. Following the completion of the purchase, the director now directly owns 9,016 shares in the company, valued at $135,420.32. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.12% of the stock is owned by insiders.

Blue Owl Capital Company Profile

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.